-The Hindu Ryots can use it at all bank ATMs to withdraw cash to buy fertilizer or seed TIRUPATI (Andhra Pradesh): ‘RuPay', the multipurpose smart card envisaged to enable payments from various financial institutions to beneficiaries through an impressive network of ATMs, is all set to benefit the farming community more than ever before, said National Bank for Agriculture and Rural Development (NABARD) Chairman Harsh Kumar Bhanwala. Speaking after releasing and distributing the...
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Kisan credit cards buoy rural demand- Dinesh Unnikrishnan
-Live Mint In the two years to March 2012, the number of kisan credit cards grew by 28%, while the outstanding amount grew by 76% So far, the rural job-guarantee scheme, other social programmes by state governments and the raising of minimum support prices to farmers have been cited as reasons for the continued buoyancy in rural consumption and also for inflation in food items. But there could be another insidious...
More »Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
More »All Kisan Credit Cards To Be Converted to ATM Cards: PC
-Outlook State-owned banks have been asked to strictly adhere to the March, 2014 time-line for converting all Kisan Credit Cards (KCCs) to ATM cards, Finance Minister P Chidambaram today said. "All KCCs will be converted to ATM cards. I have impressed upon all chairpersons of the banks that this time-line must be strictly adhered to," Chidambaram said following a meeting with the chief executives of state-run banks. State-owned lenders were asked to convert...
More »No One Killed Agriculture
-Inclusion.in There is good news. And there’s bad news. The good news first. There’s been a bumper wheat crop and the granaries are overflowing. And the bad news? Where do we begin? A lot of that grain will rot. Millions will still remain hungry. Heavily in debt and distressed, farmers are committing suicide. Food prices are soaring. There’s more… Farmers don’t have money. Their land is too small and isn’t yielding much. Fertilisers and...
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