Banks sanction Rs 62,870 crore to over 70 lakh Kisan Credit Card holders

Banks have so far sanctioned a total of Rs 62,870 crore to over 70.32 lakh Kisan Credit Card holders to help them meet their kharif sowing needs.

"As on 30.06.2020, 70.32 lakh Kisan Credit Cards have been sanctioned with credit limit of Rs 62,870 crore out of Rs 2 lakh crore concessional credit under the #Aatmanirbhar package. This will benefit 2.5 crore farmers, including fishermen & dairy farmers," Finance Minister Nirmala Sitharaman said in a tweet.

In May, the government had said that 2.5 crore farmers, including fishermen and those involved in animal husbandry, would get Rs 2 lakh crore of concessional credit through Kisan Credit Cards under its Rs 20 lakh crore economic stimulus package.

The government has also disbursed Rs 24,586.87 crore to cooperative banks, regional rural banks (RRBs) and microfinance institutions, under special liquidity facility by National Bank For Agriculture and Rural Development (NABARD).

"As on 30.06.2020, Rs 24,586.87 cr has already been disbursed to Cooperative Banks, RRBs & MFIs under Rs 30,000 cr Special Liquidity Facility by NABARD. This will help 3 cr small & marginal farmers meet their post-harvest and Kharif sowing needs," she said in another tweet.

With regard to Rs 2 lakh crore concessional credit to farmers, the government had said a special drive will be undertaken to provide credit to PM-KISAN beneficiaries through Kisan Credit Cards.