On October 1, 2020 Indian Bank introduced Kisan credit card loan scheme for fishermen in TamilNadu. Under this scheme, loans up to Rs 2 lakh as working capital can be availed with 7% interest rate. This loan will be provided under the MUDRA scheme. The borrowers will be given a Rupay Kisan Credit Card.
Note– Fishermen with mechanised boat details can submit the application through the Fisheries Department.
Features of Kisan Credit Card Loan Scheme
No Restriction for Transaction– No restrictions are imposed on the number of debit and credit transactions.
Interest Subvention & Renewal– Those who repay the loan within one year will get interest subvention of 3%. Once a year the loan can be renewed.
Rupay Kisan Credit Card– Rupay Kisan Credit Card can be used at ATMs(Automated Teller Machines), BC (Banking Correspondent) points to withdraw money and also to make purchases through merchant Point of Sale (POS).
Recent Related News:
On June 18, 2020 ICICI Home Finance Company Limited(HFC) launched SARAL, a special affordable housing loan scheme to finance homes in urban and rural areas. The beneficiaries are women, lower, middle income customers and economically weaker sections, with a maximum household income up to Rs 6 lakh per annum.
About Indian Bank:
Managing Director(MD) and Chief Executive Officer(CEO)– Padmaja Chunduru
HeadQuarters– Chennai, TamilNadu