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With a view to augment the resources of Cooperative Banks and Regional Rural Banks (RRBs) to enable them to extend credit to farmers for taking up pre-monsoon and Kharif 2020 operations, the National Bank for Agriculture and Rural Development (NABARD) has extended Rs 20,500 crore.

Of the total Rs 20,500 crore, NABARD has extended Rs 15,200 crore to Cooperative Banks and the balance of Rs 5,300 crore to RRBs as special liquidity facility in various states. The Fund is given as a means of front-loading the resources of these banks so as to ensure adequate liquidity with them for financing farmers. This is against Rs 5,000 crore lent during the first quarter of the last year.

The banks have also initiated a programme of Saturation of KCC (Kisan Credit Card) and about 12 lakh new KCCs have been issued by Cooperative banks and RRBs during the last two months. Notably, a total of 4.2 crore KCCs have been issued by Cooperative banks & RRBs as on 31 March 2020.

There are 33 State Cooperative Banks, 352 District Central Cooperative Banks and 43 RRBs in the country through which the money is financed to the farmers.

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Free Press Journal