State Level Bankers Committee (SLBC) held its meeting concurrently with the GRAM Kota 2017 event. Chaired by CM Raje, the SLBC meeting was held at the RAC ground in Kota. A host of issues were discussed at he meeting. It was all about linking farmers with the digital banking industry.
CM Raje urged SLBC officials to give higher impetus to agriculture amongst other prioritized areas. She also directed officials to easy the process of loan clubbed with an SMS Facility to keep farmers updated about their loans. These initiatives, she said will reflect on agriculture and zoom its growth digits to almost double.
Bhamashah Yojana has been linked to the bank directly to ensure direct benefit transfer all those covered in its ambit. A slew of obstacles were mitigated at the root level to ensure that beneficiaries are confronted with a transparent and hassle-free system.
The cap limit for stamp price for housing and industry development has been reduced to Rs. 5 lac from the previous 10 lac fee. Moreover, under the Bhamashah Yojana, a subsidy of 4 % is being granted to women, educated unemployed, unprivileged casts, etc. on loan of Rs 5-10 lac. To top it, farmers with a good credit rating (ability to repay loan) are being given interest free loans. For this purpose, an amount of 370 cr was announced in the 2017-18 budget.
Impressively, the government has also decided to compensate banks for losses which incur due to short period loans. A sum of 150 cr has been allocated for the same.
As the Aam Aadmi is banking on an ATM for money needs, so are the farmers. In that regard, banks will now issue 26 lakh debit cards to farmers.
The whole aim is to link farmers with the digital banking industry. Also, it will ensure that farmers can seamlessly take loans for their requirements, thereby expediting the whole agricultural process.
The Rajasthan government is facilitating far-off, deserted areas with 20 lakh micro-ATM. She directed banks to usher in the digital payment drive across the rural areas. She also directed officials to install Additional Business Correspondent under the Gram Panchayat level.
