70.32 lakh Sanctioned Kisan credit cards with a credit limit of 62,870 cr: Govt
Up to 70.32 lakh of Kisan credit cards have been sanctioned with a credit limit of ??62,870 crore, as of June 30, on ??2,000 billion in concessional credits announced as part of the Aatma Nirbhar Bharat package announced by the government in May, the finance ministry said on Wednesday.
“This will benefit 2.5 million farmers, including fishermen and dairy farmers,” the ministry said.
In May, Finance Minister Nirmala Sitharaman took steps to provide credit and relief to farmers affected by the lockdown, including a ??$ 2 trillion credit program to cover 25 million farmers who do not have Kisan credit cards. This decision was announced to allow these farmers to access institutional credit at a concessional interest rate, and also to cover fishermen and farmers practicing animal husbandry.
“Almost ??2,000 billion in concessional credits will be granted to stimulate agricultural activity. The special reader will benefit 2.5 crore farmers who do not have these Kisan credit cards. The rough estimate is that if there are 9 crores of PM Kisan beneficiaries, out of those 2.5 crores, farmers do not have a Kisan credit card. Now we reach out to them and give them the card, ”Sithraman said.
The ministry also said the government disbursed ??24,586.87 crore to cooperative banks, regional rural banks (RRBs) and microfinance institutions, under ??Special liquidity facility of 30,000 crore from the National Bank for Agriculture and Rural Development (NABARD).
“This will help 3 crore of marginal small farmers meet their post-harvest and kharif planting needs,” he said.
In May, Sitharaman also announced ??30,000 crore additional emergency working capital through NABARD. The additional emergency working capital of 30,000 crore was an addition to the ??Budget allocation of 90,000 crore announced February 1 for NABARD.
The minister also said that NABARD would extend additional support to refinancing ??30,000 crore for agricultural loan needs of rural cooperative banks and regional rural banks. The program is primarily provided with a reception facility from 33 state cooperative banks, 351 district cooperative banks and 43 RRBs available at reception based on their loans. The program is designed to meet the post-harvest rabi (winter) and current kharif (summer) needs of 30 million marginal smallholder farmers during the months of May and June.
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