Union Finance Minister Nirmala Sitharaman recently called for full automation of Regional Rural Banks (RRBs) and cooperative banks.
Sitharaman was speaking at an event where the Ministry of Agriculture and Farmers Welfare (MoA&FW) launched three initiatives – Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, a campaign aiming to extend the benefits of the Kisan Credit Card (KCC) scheme to every farmer across the nation and a manual on Weather Information Network Data Systems (WINDS). She also directed Department of Financial services to study the gap between loan sanction and loan disbursement for these banks.
These initiatives aim to revolutionise agriculture, enhance financial inclusion, optimise data utilisation ,and improve the lives of farmers across the nation.
Delivering the keynote address on the occasion, the finance minister assured full cooperation of banks for success of Ghar Ghar KCC Abhiyan. She said that the government under Prime Minister Narendra Modi has allocated enough money under KCC scheme to ensure easy short-term loans to farmers and their onboarding for the scheme.
She also revealed that over Rs 1,40,000 crore of insurance amount has been disbursed to farmers so far against a premium amount of Rs 29,000 crore.