‘Kisan Card’ launched by Axis bank to facilitate easy agriculture lending to farmers through ATMs.

Screenshot_2The private lender bank, Axis Bank launched an electronic Kisan Card on the RuPay platform, through which a farmer can withdraw up to Rs. 1 lakh per day from Automated Teller Machines ( ATMs)

Purpose: To facilitate easy agriculture lending to farmers through ATMs.

Electronic Kisan Card

  • Will be offer to agrarian customers on their cash credit crop loan accounts.
  • Helpful for them to reduce the interest burden as the interest payments start after withdrawal of the money.
  • Provides queue free, 24×7 disbursement facility for farmers.
  • Allows them to use their loan limit by withdrawing cash up to Rs 1 Lakh per day, in the required quantum, as and when required, thereby reducing their interest burden and negating the risk of carrying higher volumes of cash. 

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Categories: Banking Current Affairs 2017

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