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Kisan Smadhan Card Enable Farmers To Avail Short Term And Long Term Credit

Banking sector has forayed into the field of agriculture in a strong way. It helps in coming up with fresh plans and schemes related to farmers, so that this rural population doesn’t stay behind in availing short term as well as long term credit. Initiatives in this front have been brought in by Bank of India which helps in easy and quick disbursement of short term and long term loans. From time to time, Bank of India has introduced saving plans for different purposes, for the farming communities.

A new scheme has been introduced by Bank of India, in line with the earlier prevalent Kisan credit card schemes, which is presently known by the name of Kisan Samadhan Card. The concept of this card is to provide a line of credit to the farmers which would enable them to avail short term and long term credit for a period of maximum 5 years. They can also have rollover arrangements. In the coming days, Kisan Samadhan Card will be replacing the Kisan Suvidha card and Kisan Gold card.

Objectives of the Kisan Samadhan card

  • This particular card is aimed at catering to the objectives of Kisan credit card schemes, so that the credit card needs of the farmers are met for 5 years. Under this kind of loan, they will be able to avail facilities for farming, purchasing durables, equipments, consumption needs and other requirements. There will also be loans for vehicles and housing. Another aim of this kind of Kisan credit card schemes is to bring freedom in the operations and flexibility of credit utilisation.
  • This particular scheme of Kisan Samadhan Card would be issued to all the farmers, who are presently in possession of Kisan credit card and should avail the long and short term credit facilities.
  • Credit facility can be taken up in both investment line as well as farming production line.
  • Under these Kisan credit card schemes, farmers can get certain value of loans, which would be calculated on the basis of income of the farmers. Also, they can get the credit in turn of mortgage of landed properties. There are also facilities of emergency loans for the farmers, depending on their requirements of building and farming.

With the introduction of Kisan Samadhan Card, almost all kinds of needs of farmers can be met with proper planning and assessment. Bank of India has brought sufficient force into these kinds of Kisan credit card schemes and allowed people from farming communities to be self dependent and work towards good agricultural practices and improvements.

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