The SBI farmers credit card project has been initiated on a pilot basis in Gujarat, Rajasthan and Madhya Pradesh, and depending on the success of the pilot run, it will be launched nationally. Photo: Aniruddha Chowhdury/MintKolkata: The State Bank of India, through its subsidiary SBI Cards & Payments Services Pvt Ltd, will offer credit cards to farmers across the country, a senior company official said on Tuesday. Unlike the Kisan Credit Card (KCC), the new credit cards for the farmers will have a credit limit with a credit period of 45 days. Kumar said significantly lower interest penalty will be levied on farmers who default on the 45 day credit period, unlike in case of usual credit cards. “There will be some limits within that credit card,” Kumar said, adding that around 75-80% limit could be for buying agricultural inputs.

Source: Mint January 30, 2018 13:01 UTC