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

F.T.I. International Conference Thailand is Back*

"Thailand Is Back" is the theme of a breakthrough international conference spearheaded by the Federation of Thai Industries with 500 business leaders next Tuesday at the Dusit Thani Hotel. The conference, co-organised by The Nation, will see leading Thai...

The breakthrough Points for Diamonds campaign by KTC and Jubilee offers members the chance of using only nine points to claim up to 50% discount

The breakthrough “Points for Diamonds” campaign by KTC and Jubilee offers members the chance of using only nine points to claim up to 50% discount and the chance to win an exclusive trip to Belgium and Netherlands - visit the world best...

TRIS Rating Affirms Company Senior Unsecured Debt Ratings of KSL at A and Assigns A Rating to Proposed Up to Bt1,000 Million Senior Unsecured Debt

Khon Kaen Sugar Industry PLC (KSL) at “A”. At the same time, TRIS Rating has assigned a rating of “A” to KSL’s proposed issue of up to Bt1,000 million in senior unsecured debentures. The outlook remains “stable”....

TRIS Rating States Acquisition of Greyhound and Greyhound Cafe by SST Has No Effect on SSTs Credit Rating

On 22 July 2014, Sub Sri Thai PLC (SST) announced it had acquired all the outstanding shares of Greyhound Co., Ltd. and Greyhound Café Co., Ltd. for a total value of Bt1,853.80 million. SST’s rating is unlikely to change in the near term,...

The World Bank Proposes a Roadmap For Heating Tariff Reforms In Belarus

Minsk, July 25, 2014 - The current heating tariff system in Belarus is inefficient, unsustainable in the long run, and undermines industry competiveness and risks macroeconomic instability, says a World Bank’s study Belarus: Heat Tariff Reform and...

Related Topics