Srinagar: Jammu and Kashmir Finance Minister Abdul Rahim Rather has asked banks to provide “hassle free” credit facilities to farmers in the state in a bid to provide a boost to the state’s rural economy,.
“(There is a) need for providing hassle free credit facilities to the farmers to give boost to the rural economy,” he said at Kissan Loan Mela organised by Ellaquai Dehati Bank in Budgam district yesterday.
The minister also asked banks to improve their Credit Deposit Ratio (CDR) towards the agriculture sector, which he referred to as “the backbone of the state’s economy”.
To realise the dream of a prosperous and self-reliant Jammu and Kashmir, he said, a financially vibrant rural economy is needed.
Rather also said the Kissan Loan Mela was a “sequel to the measures to take the administration at the doorsteps of the people to redress their grievances.”
He distributed Kissan Credit Cards among about 500 vegetable growers of the area.
The minister also launched a new Deposit-cum-Loan Product facility — EDB Kissan Dost — for small farmers where they can open and maintain bank account at “no cost” and can also avail an overdraft facility up to a maximum amount of Rs 10,000 without any mortgage.