Farmers across the states for the first time will get facility of credit cards by 12 July 2014. As per the RBI guidelines, farmers across the country are to be issued credit cards to boost paperless cash credit system by March 2015.
In Haryana, Axis Bank will be the sponsor bank to issue credit cards to farmers which are covered by central co-operative banks.
In Haryana the new scheme known as ‘Rupay KCC Card’ will be launched from Ambala on July 12 on the occasion of foundation day of National Bank for Agriculture and Rural Development (NABARD).
This State wide scheme will be launched from Cooperative Bank of Ambala
As per RCC Card Scheme, farmers covered under Primary Agriculture Co-operative Societies will get facility of credit cards for paperless loans for crops and other needs. Under the scheme, the loans will incur interest of 7 % up to the limit fixed under the Kisan Credit Card scheme. At present crop loans up to 3 lac are provided to farmers under Kisan Credit Card Scheme. “In Haryana farmers are provided interest subvention of three per cent in case of timely payment,” CEO, Ambala Central Cooperative Bank.