Financial Daily from THE HINDU group of publications
Tuesday, Jul 27, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 27, 2004 |
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Money & Banking
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Credit Cards & Debit Cards Agri-Biz & Commodities - Farm credit BoI launches Kisan Samadhan card Our Bureau
Coimbatore , July 26 BANK of India has today launched the `Kisan Samadhan' Card scheme to enhance the flow of credit to farmers. Though the bank has conventionally extended financial assistance to farmers, the Samadhan scheme aims to take care of farmers with better technical know-how of modern agricultural practices, Mr M. Balachandran, Executive Director, Bank of India told Business Line. Speaking over telephone, after introducing the product and distributing over 150 cards to farmers at Vadapatti in Madurai District, Mr Balachandran said that the bank proposed to graduate the 5-lakh Kisan Card (issued already) under the new scheme in a phased manner. "We have not fixed any target for distribution of this product. But we are hoping to distribute about one lakh Samadhan Cards before the end of the current fiscal," he said in reply to a query. The bank, he said would make a comprehensive assessment for extending the line of credit for the long term, medium and short term needs of the farmer. Calling it a `flexible product', he said the single card would take care of production, investment, consumption and emergency needs of the farmer. Mr Balachandran said personal accident insurance cover at subsidised rate and crop insurance cover was available under the scheme.
More Stories on : Credit Cards & Debit Cards | Farm credit | Public Sector Banks
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