Kisan Credit Card: Finance Minister Nirmala Sitharaman announces Rs 2 lakh crore loan

Announcing relief measures for 2.5 crore farmers, the Finance Minister Nirmala Sitharaman today announced Rs 2 lakh crore farm loans through Kisan Credit Card. She also made an announcement of Rs 30,000 crores Additional Emergency Working Capital Funding through NABARD. Sitharaman said that NABARD will extend additional refinance support for crop loan requirement of Rural Co-operative Banks and Regional Rural Banks.

See PIB tweet below:

Rs 2 lakh crore Concessional credit boost to 2.5 crore farmers through #KisanCreditCards; Fishermen and Animal Husbandry farmers will also be included in this drive#AatmaNirbharBharatPackage pic.twitter.com/Dbv3D7wpqt

— PIB India #StayHome #StaySafe (@PIB_India) May 14, 2020

Announcing Rs 2 lakh crore loan through Kisan Credit Card Nirmala Sitharaman said, "The Government of India is going to give Rs 2 lakh crore concessional credit boost to 2.5 crore marginal farmers through Kisan Credit Card. Fishermen and Animal Husbandry farmers will also be included in this drive." She said that it will help around 2.5 crore marginal farmers to become 'self-reliant' or 'Aatmnirbhar.'

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Sitharaman also made announcement of Rs 30,000 crores Additional Emergency Working Capital Funding through NABARD that will benefit around 3 crore marginal farmers. Giving clear road map on this additional working capital funding Sitharaman said that NABARD will extend additional refinance support for crop loan requirement of Rural Co-operative Banks (RCBs) and Regional Rural Banks (RRBs). She also made it clear that this additional Rs 30,000 crore fund is over Rs 90,000 crore to be provided by NABARD through the normal refinance route during this year.

See PIB tweet below:

To benefit around 3 crore farmers, mostly small and marginal #farmers, Govt announces Rs 30,000 crores Additional Emergency Working Capital Funding through #NABARD #AatmaNirbharBharatPackage pic.twitter.com/KrVN0jBn5J

— PIB India #StayHome #StaySafe (@PIB_India) May 14, 2020

Giving details of what Modi government has done in the last two months Sitharaman said that in the last two months, a total number of 25 lakh new Kisan Credit Card have been issued that will made around Rs 25,000 crore loan amount to the marginal farmers.