RBI for multi-purpose credit cards for non-farm sector
Enthused by overwhelming response to Kisan Credit Cards, the Reserve Bank has agreed with the suggestion of issuing multi-purpose 'swarojgar credit cards' for self-employed persons in the non-farm sector.
By PTI |
MUMBAI: Enthused by overwhelming response to Kisan Credit Cards, the Reserve Bank has agreed with the suggestion of issuing multi-purpose 'swarojgar credit cards' for self-employed persons in the non-farm sector.
"RBI's Internal Working Group agrees with the recommendation of multi-purpose 'swarojgar credit cards'. Banks should popularize Swarojgar Credit Cards for the non- farm unorganized sector," the group formed to review the proposals of the National Commission for Enterprises in the Unorganised Sector has said.
The swarojgar credit would help give access to credit for every purpose without having to undergo the process of taking seperate loans, an RBI official said.
The RBI working group has said endeavours to set up credit information companies should also be expedited as availability of credit record is a significant enabling factor in flow of credit to the unorganised sector.
The Commission, set up by the government under the chairmanship of Arjun K Sengupta, had suggested multipurpose swarojgar credit cards for self-employed persons in the non-farm unorganised sector.
The Commission's recommendations were made in the backdrop of tremendous success of kisan credit cards.
Conceived with the idea of covering all sections of people engaged in the rural sector, kisan credit cards extended adequate and timely support to the farmers in their cultivation needs like purchase of inputs in a flexible manner.
"RBI's Internal Working Group agrees with the recommendation of multi-purpose 'swarojgar credit cards'. Banks should popularize Swarojgar Credit Cards for the non- farm unorganized sector," the group formed to review the proposals of the National Commission for Enterprises in the Unorganised Sector has said.
The swarojgar credit would help give access to credit for every purpose without having to undergo the process of taking seperate loans, an RBI official said.
The RBI working group has said endeavours to set up credit information companies should also be expedited as availability of credit record is a significant enabling factor in flow of credit to the unorganised sector.
The Commission, set up by the government under the chairmanship of Arjun K Sengupta, had suggested multipurpose swarojgar credit cards for self-employed persons in the non-farm unorganised sector.
The Commission's recommendations were made in the backdrop of tremendous success of kisan credit cards.
Conceived with the idea of covering all sections of people engaged in the rural sector, kisan credit cards extended adequate and timely support to the farmers in their cultivation needs like purchase of inputs in a flexible manner.
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