types of credit given in NABARD?
Answers
Type of Credit Card # 1. Kisan Credit Card:
(i) NABARD formulated a model kisan credit card scheme in consultation with major banks.
(ii) Model scheme was circulated by RBl to commercial banks and by NABARD to co-operatives.
(i) Advantages to farmers.
(ii) Access to adequate and timely credit to farmers,
(iii) Full year’s credit requirement of the borrower taken care of.
(iv) Minimum paper work and simplification of documentation for drawal of funds from the bank,
(v) Flexibility to draw cash and buy inputs.
(vi) Assured availability of credit at any time enabling reduced Interest burden for the farmer,
(vii) Sanction of the facility for 3 years subject to annual review and satisfactory operations and provision for enhancement.
(viii) Flexibility of drawals from a branch other than the Issuing branch at the discretion of the bank.
Benefits of the Scheme to the Banks:
(0 Reduction in work load for branch staff by avoidance of repeat appraisal and processing of loan papers under Kisan Credit Card Scheme.
(ii) Minimum paper work and simplification of documentation for drawal of funds from the bank,
(iii) Improvement in recycling of funds and better recovery of loans.
(iv) Reduction In transaction cost to the banks,
(v) Better Banker Client relationship.
Type of Credit Card # 2. Swarojgar Credit Card:
Swarojgar Credit Card Scheme (SCC Scheme) was Introduced in September 2003 consequent upon the announcement made by Honorable Prime Minister in his independent day speech on 15th August 2003.
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