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Now, farmers to get SBI credit cards
To deepen the credit culture among the farming community of the country, its largest lender State Bank of India will provide credit cards to the farmers through its subsidiary SBI Cards and Payments Services, its Chairman Rajnish Kumar said on Tuesday.
Kolkata: To deepen the credit culture among the farming community of the country, its largest lender State Bank of India will provide credit cards to the farmers through its subsidiary SBI Cards and Payments Services, its Chairman Rajnish Kumar said on Tuesday.
He said the project had been taken up on a pilot basis in Gujarat, Rajasthan and Madhya Pradesh, and then would be launched across the country depending on its success.
Unlike the Kisan Credit Card (KCC), the SBI card would provide 40 days credit to the farmers and the rate of interest charged would be normal as other SBI cards, Kumar said.
The big difference was that the penalties charged in case of non-payment of due would be comparatively lower than the normal SBI cards, he told reporters at a launch event here.
