Banks sanctions about Rs 90,000 crore concessional credit to 1.1 crore KCC holders

Finance Minister Nirmala Sitharaman on Monday said banks have sanctioned Rs 89,810 crore to about 1.1 crore Kisan Credit Card (KCC)holders to help farmers meet finances for kharif sowing and allied activities. As part of the Rs 20.97 lakh crore stimulus package, the government had announced Rs 2 lakh crore of concessional credit through KCC to 2.5 crore farmers, including fishermen and those involved in animal husbandry.

"As on 24.07.2020, 111.98 lakh Kisan Credit Cards have been sanctioned with credit limit of Rs 89,810 crore out of Rs 2 lakh crore concessional credit under the #AatmanirbharBharat package. This will benefit 2.5 crore farmers, including fishermen & dairy farmers," the Finance Minister said in a tweet.

This marks an increase of Rs 26,940 crore over Rs 62,870 crore sanctioned to 70.32 lakh KCC holders as on June 30, she said.