Financial Daily from THE HINDU group of publications
Friday, Sep 03, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 03, 2004 |
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Money & Banking
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Credit Cards & Debit Cards ICICI Bank `loan card' for farmers Our Bureau
Mumbai , Sept. 2 ICICI Bank has launched the `ICICI Bank Kisan Loan Card', which will enable farmers to avail themselves of loans through an electronic card with easy access to withdrawal of cash through the ATMs. The ICICI Bank Kisan Loan Card has been launched in Devarapalli in interior Andhra Pradesh in association with the Tobacco Board, Ministry of Commerce, Government of India, said a press release. "With this Kisan Loan Card, we have leveraged technology to bring to farmers low cost loans and easy access to credit. ICICI Bank is committed to develop innovative banking solutions to address the needs of rural India," said the release quoting Ms Zarin Daruwala, General Manager and Head-Rural, Microbanking and Agri Business Group, ICICI Bank. Over 6,000 farmers affiliated to the Tobacco Board in Andhra Pradesh across four tobacco regions are expected to benefit from this card. In addition to the cash loan through the card, the farmer can also avail himself of crop loans from ICICI Bank to procure fertilisers, seeds, pesticides, diesel etc, the release said. The bank has installed four low cost ATMs especially designed for rural India in Devarapalli, Koyyalagudem and Jangareddygudem. These ATMs will now enable farmers to have access to money 24 hours a day through cash withdrawals as against withdrawing from the local bank branch. ASAN, the rural ATM designed by NCR comes with integrated power management systems, which ensure smooth running in spite of power failures in rural areas, said the release.
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