Over Rs 5 lakh crore agriculture credit disbursed in 2011-12: Pranab Mukherjee

NEW DELHI: Banks have disbursed over Rs 5 lakh crore credit to the farmers during last fiscal as against the target of Rs 4.75 lakh crore, Finance Minister Pranab Mukherjee said today.

He also urged the banks to take on a mission mode the ambitious task of converting the Kisan Credit Card (KCC) into an ATM card linked to the bank account of the farmer.

"I am also very happy to note that the target for agriculture credit of Rs 4,75,000 crore for the year 2011-12 has been exceeded and more than Rs 5 lakh crore credit was extended to the farmers," Mukherjee said during his meeting with the CEOs of Public Sector Banks (PSBs) and Financial Institutions (FIs) here.

The Minister exuded confidence that the banks would achieve the agricultural credit target of Rs 5.75 lakh crore in 2012-13.

"I am sure that by your sustained efforts you would help achieve the agriculture credit target of Rs 5,75,000 crore in 2012-13," he said lauding the performance of the banks.

The banks have also taken up an ambitious task of converting the Kisan Credit Card (KCC) into an ATM card linked to the bank account of the farmer as per the new KCC scheme circulated by NABARD and RBI.

"I would urge that this be taken up on a mission mode, as this can be a game changer in the manner agriculture credit is accessible to farmers," Mukherjee said.