Money & Banking

SBI rolls out YONO Krishi review to empower farmers

Our Bureau Mumbai | Updated on August 14, 2020 Published on August 14, 2020

State Bank of India (SBI) has introduced “KCC (Kisan Credit Card) Review option” on its digital agricultural solution platform, YONO Krishi, to enable farmers to access their KCC limit in four clicks.

With this added feature, farmers will no longer need to visit the bank branch to apply for a revision in their KCC limit, the country’s largest bank said in a statement.

“KCC Review on YONO Krishi is expected to benefit more than 75 lakh farmers having KCC accounts with SBI. The feature of paperless KCC review will not only help farmers save costs and effort involved in applying for revision of the KCC limit, but also make the process quicker for them especially during the harvesting season,” the bank said.

According to the Reserve Bank of India, the KCC scheme has been designed to ensure that farmers get adequate and timely credit support from the banking system under a single window with flexible and simplified procedure for their cultivation and other needs.

The scheme provides support to farmers to meet short term credit requirements for cultivation of crops; post-harvest expenses; produce marketing loan; consumption requirements of farmer household; working capital for maintenance of farm assets and activities allied to agriculture; and investment credit requirement for agriculture and allied activities.

YONO Krishi has four offerings/sections: Khata (caters to agriculture credit solutions like agri gold loans), Bachat (financial Super store for farmers investment & insurance needs), Mitra (agriculture advisory services) and Mandi (online market place for purchasing agricultural inputs & farm equipment).

Recognising the fact that not all farmers may have access to smartphones, SBI said it has also streamlined the KCC review process at its branches.

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Published on August 14, 2020
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