Banks sanction over Rs 1 lakh cr concessional loans to Kisan Credit Card holders

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New Delhi: The Finance Ministry on Thursday stated banks have sanctioned over Rs 1 lakh crore concessional loans to Kisan Credit score Card (KCC) holders to assist farmers meet monetary necessities in the course of the COVID-19 disaster. As on August 17, 1.22 crore KCCs have been sanctioned with the credit score restrict of Rs 1,02,065 crore, and this can go a good distance in reviving the agricultural financial system and accelerating agricultural development, the ministry stated in an announcement.

This displays a rise of Rs 12,255 crore, over Rs 89,810 crore sanctioned to 1.1 crore KCC holders as on July 24.

In an effort to buffer the agricultural sector from the shock of COVID-19, it stated, a particular saturation drive is underway to supply concessional credit score to farmers via Kisan Credit score Card.

As a part of the Rs 20.97 lakh crore Aatma Nirbhar Bharat Package deal, the federal government in Could had introduced the supply of concessional credit score of Rs 2 lakh crore which is prone to profit 2.5 crore farmers, together with fishermen and dairy farmers.

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