Big banking institutions stepping forward to give a assisting hand to the farmers through KCC-based loans is great however these loan providers should be careful. It shall be great to check out the performance of KCC loans, up to now, before pressing more loans to your farmer.
The other day, two big banking institutions announced items and measures to further push farm loans making use of Kisan charge card (KCC)-modelled platforms.
HDFC Bank, the united states’s biggest sector that is private, established exactly exactly what it called Shaurya KGC Card, basically a farm-loan item directed at armed workers whose members of the family are involved in farming activities at remote places.
Tagging it being an Independence Day present towards the forces, HDFC Bank CEO Aditya Puri stated the mortgage will likely be better to access, may have mortgage loan as high as 7 per cent and an insurance addressage cover of up to Rs 10 lakh. The minimum landholding demands have also paid off to two acres when compared with the standard five acres, the lender said.
On a single time, the biggest government-owned bank, State Bank of Asia (SBI), said it will push KCC-type loans to farmers called ‘Yono-Krishi’.