Quick Summary
Union Finance Minister Smt. Nirmala Sitharaman chairs meeting with heads of Public Sector Banks and Regional Rural Banks (RRBs) Finance Minister Reviews Operational Governance reforms in RRBs and performance of Kisan Credit Scheme (KCC) for Animal Husbandry, Dairying and Fisheries Finance Minister instructs all the Public Sector Banks to onboard account aggregator system by end of July FM advises IBA and sponsor banks to play a lead role in technological advancements in RRBs Finance
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FAQ :
The meeting focused on reviewing operational and governance reforms in Regional Rural Banks (RRBs) and the performance of the Kisan Credit Card (KCC) scheme for animal husbandry, dairying, and fisheries.
All Public Sector Banks were instructed to onboard the account aggregator system by the end of July.
The Finance Minister directed banks to ensure the time-bound disposal of all pending KCC applications.
As of July 1st, 2022, 3.26 crore farmers, including 19.56 lakh from animal husbandry, dairy, and fisheries, have been covered under the KCC scheme.
Sponsor banks and the Indian Banks' Association (IBA) are advised to play a lead role in technological advancements within RRBs and to formulate a clear roadmap to strengthen them.
A special KCC saturation drive was launched under the Atma Nirbhar Bharat Abhiyan with the aim to cover 2.5 crore farmers under KCC, providing a credit boost of Rs. 2 lakh crore.
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