IDBI Bank launches Kisan Credit Smart Card

Stocks and Financial Services Press Releases Tuesday December 18, 2012 09:25
Mumbai--18 Dec--Asian Banker

Mumbai, December 10th 2012 – IDBI Bank in association with National Payment Corporation of India (NPCI) has launched the ‘Kisan Credit Smart Card’ (KCSC). KCSC is a pioneering credit delivery innovation for providing adequate and timely credit to farmers under a single window with flexible and simplified procedures. Under this facility, farmers can avail assistance to meet their credit needs for agriculture and allied activities, such as, cultivation of crops, consumption requirements of farmer household, post harvest expenditures etc.

KCSC would render the benefit of revolving cash credit facility to the farmers, allowing unlimited drawals and repayments within the credit limit. The credit limit would be fixed on the basis of operational land holding, cropping pattern and scale of finance etc. Additionally, a flexible limit upto Rs.50,000 would be provided to the marginal farmers based on their land holding pattern and crops grown by them. All eligible farmers / SHGs would be provided with a Kisan Credit Card and a pass book.

The card can be used to draw cash from any bank ATM and from a later date also for purchase of inputs like seed, fertilizer and pesticide from dealers using the POS machines.

Speaking on the occasion, Shri S.K.V. Srinivasan, Executive Director, IDBI Bank said “This initiative shall go a long way in making banking easy and bringing down the transaction cost for the farmers and serving the Indian Agricultural society at large. KCSC has been designed to financially empower the farmers and we are proud to be a part of this technological evolution. IDBI Bank believes in offering novel services to its consumers, keeping in view a holistic societal development perspective. The Bank will continue to play a pioneering role in promoting development of this great nation and its people.”

--www.theasianbanker.com (December 18 2012)--

Latest Press Release

CITIC implements FINCAD F3 analytics solution

Vancouver, BC – FINCAD, the leading provider of OTC derivatives pricing and risk management solutions, today announced that CITIC Securities Company Limited (CITIC) has implemented FINCAD’s F3 analytics solution to support the growth of its...

IMF Executive Board Concludes 2014 Article IV Consultation with the United States

On July 22, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the United States.1 Economic activity in the U.S. accelerated in the second half of 2013, but an unusually harsh winter conspired...

World Bank Group ready to provide financial support worth $15-18 billion over the next three years

New Delhi, July 23, 2014 -- The World Bank Group will bring increased financial and knowledge resources to help India return to the path of sustained high growth needed to bring prosperity to millions, especially the poor living in the lower income...

Korea Electric Power Corp.#s Proposed U.S. Dollar-Denominated Senior Unsecured Bonds Rated #A+#

HONG KONG (Standard & Poor's) July 23, 2014--Standard & Poor's RatingsServices today assigned its 'A+' rating to Korea Electric Power Corp.'s(KEPCO; A+/Stable/A-1) proposed U.S.-dollar denominated senior unsecured bondsto be drawn from its US$3...

Ratings Assigned To Cash Flow CLO Transaction Dryden 32 Euro CLO 2014

LONDON (Standard & Poor's) July 23, 2014--Standard & Poor's Ratings Servicestoday assigned credit ratings to Dryden 32 Euro CLO 2014 B.V.'s class A-1A,A-1B, B-1A, B-1B, C, D, E, and F notes. At closing, Dryden 32 Euro CLO 2014also issued an...

Related Topics