The Kisan Credit Card (KCC) scheme was launched in 1998 to provide short-term formal credit to farmers and it was created by NABARD (National Bank for Agriculture and Rural Development). The scheme was launched by the Government of India To fulfill the credit requirement for farmers in some necessary fields such as agriculture, fisheries, and animal husbandry sectors. The … [Read more...]
National Bank of Agriculture and Rural Development (NABARD)
NABARD stands for “National bank of Agriculture and Rural Development". It is a non -bank statutory financial organization. It was set up on 12 July 1982 under an Act of Parliament as a central or apex institution for financing agriculture and rural sector (small scale industries, cottage, and village industries, handicrafts, etc.) with the paid-up capital of ₹ 100 … [Read more...]
Finance Minister’s second set of “Atma Nirbhar Bharat”
On Thursday The Finance Minister Nirmala Sitharaman announces the second tranche of India's ₹ 20 lakh crore COVID-19 relief package, with a focus on migrant workers, farmers, and urban poor. Where on Wednesday's announcements focused on small businesses, non-bank lenders, and the power sector. Here are the key highlights of second announcements of “Atma Nirbhar Bharat”: ₹ … [Read more...]
Corona-virus outbreak: NBFCs ask RBI to allow one-time restructuring of all loans till March 2021
NBFCs have asked the RBI to allow them onetime reconstitution of all loans till March 2021. NBFCs said that their borrowers are facing funding related issues in between the pandemic of COVID-19 and the lockdown". NBFCs have also demanded extension of the RBI's moratorium to them, relaxation on provisioning norms, and additional funding from Small industrial Development Bank of … [Read more...]
NABARD disburses ₹ 12,767 crore to State Cooperative Banks and RRBs for on-lending
The National Bank for Agriculture and Rural Development (NABARD) on Tuesday 5th May, 2020 has disbursed ₹ 12,767 crore to State Cooperative Banks and Regional Rural Banks (RRBs) for on-lending to farmers. NABARD said in a release that "The loans are being offered for one year at an interest rate of 4.8% and the loan has been disbursed under a refinance scheme by NABARD from its … [Read more...]