State Bank of India’s subsidiary is planning to launch a credit card for farmers for which it has initiated a…
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State Bank of India’s subsidiary is planning to launch a credit card for farmers for which it has initiated a pilot launch in three states, an official said on Tuesday.
“SBI Cards and Payment Services has started a pilot launch of credit cards for farmers in Rajasthan, Gujarat and Madhya Pradesh. Applications are coming in. On the basis of the success of this pilot project, it would like to launch it nationally,” SBI Chairman Rajnish Kumar said here.
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According to him, it would be different from the existing Kisan Credit Card.
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Earlier in 2016, SBI had facilitated farmers to buy agriculture inputs by using the Rupay Debit Cards, thus eliminating the need to carry large amounts of cash.
SBI also signed an agreement with Indian Oil Corporation to implement financial inclusion programme for farmers.
The programme was implemented through the oil company’s Kisan Seva Kendras, the official said.
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