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Mobile-Enabled Kisan Card System Empowers Farmers
By siliconindia
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Tuesday, 04 October 2011, 00:24 IST
Bangalore: A project on a mobile-enabled Kisan credit card (m-KCC) meant for farming community has been started by Pallavan Grama Bank, a regional rural bank (RRB) sponsored by Indian Bank. Pallavan Grama Bank will be the first bank to launch the system in the country. It is sponsored by National Bank for Agriculture and Rural Development (Nabard).
Nabard granted 44.66-lakh for the project taken up in Villumpuram district, Tamil Nadu. T M Bhasin, Indian Bank CMD said that the project aims to facilitate a paperless, doorstep banking transaction by farmers using their mobile handsets towards acquiring farm inputs. Around 400 cards had already been given out to the beneficiaries and by December, 2000 more cards will be issued.
"The purpose is to offer banking facilities to farmers/KCC-holders at their doorstep in a safe and consistent scheme through mobile phones thereby ensuring anytime banking. This will lessen the cost to banks and also saves the time and travel costs for farmers," said Prakash Bakshi, Chairman, Nabard. "This implementation would benefit about 120 million farmers and would cover the way for 100 percent financial inclusion," he added. Bakshi feels, "This new system will bring down the transaction cost to the farmers and will also bring down number of visits he has to pay to the banks."
In a meet organized by regional director, RBI; Indian Overseas Bank and executive directors from Nabard; top managements of banks in Chennai and bankers and farmers from Villupuram district had a discussion on the project so as to accomplish in the entire state and later across the country.
m-KCC allows KCC holders to transact cash deposit, cash withdrawal, purchase of agricultural inputs. It also provides services through the bank (Pallavan GB) billed BC/BF and merchants registered with Pay mate.
