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NABARD plans to set up rural credit bureaus

Kolkata, June 12 (IANS) The National Bank for Agriculture and Rural Development (NABARD) plans to set up rural credit bureaus in the districts and initiate steps to popularise Kisan Credit Cards, a bank official said Saturday.

‘Once implemented, this will go a long way in improving the financial position of India’s 480 million marginal farmers,’ NABARD managing director K.G. Karmakar said here while addressing a seminar on ‘Financial Inclusion for the Common Indian’, organised by the Bengal Chamber of Commerce and Industry (BCCI) here.

The Kisan Credit Cards scheme, started in 1998-99 by the NABARD and the Reserve Bank of India (RBI), aims at providing adequate and timely support from the banking system to the farmers for their short-term credit needs during cultivation of crops. The credit limit is based on agriculture income.

Karmakar said NABARD has also set a target of Rs.3,75,000 crore credit disbursement in the current fiscal, up from Rs.3,25,00 last year.

He stressed the need for greater involvement of non-governmental organisations to reach the benefits of financial inclusion to the masses.

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