Hoping to-offset the impact of the demonetisation of high value currency notes, the government on November 23, 2016 announced fresh measures to benefit farmers in the rabi season and boost digital transactions. In this regard, the Finance Ministry has asked the National Bank for Agriculture and Rural Development (NABARD) to sanction 21000 crore to district cooperative banks in order to fund the crop loan demands of small and
marginal farmers.
About 40% of the credit needs of farmers are taken care of by such banks. This will ensure unhindered credit availability to farmers. This will also enable them to pass on or grant funds to the primary agriculture cooperatives and help in meeting crop loan requirements of farmers in rabi season and if required the sanctioned limit to Nabard will
be increased.
Banks have also been advised to make cash available to district cooperative banks and the issue has been reviewed by Prime Minister Narendra Modi. DCCBs will get their cash from currency chests of banks and State cooperatives. Nabard has created list of DCCBs and their list of requirements have been given to banks.
marginal farmers.
About 40% of the credit needs of farmers are taken care of by such banks. This will ensure unhindered credit availability to farmers. This will also enable them to pass on or grant funds to the primary agriculture cooperatives and help in meeting crop loan requirements of farmers in rabi season and if required the sanctioned limit to Nabard will
be increased.
Banks have also been advised to make cash available to district cooperative banks and the issue has been reviewed by Prime Minister Narendra Modi. DCCBs will get their cash from currency chests of banks and State cooperatives. Nabard has created list of DCCBs and their list of requirements have been given to banks.
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