23rd June 2012
Srinagar
J&K Bank organizes KCC Mela. Ditributes 250 Kissan Credit Cards among farmers
Committed to facilitate easy finance to the farmers, J&K Bank organized a Kissan Credit Card (KCC) Mela at Manigam in Ganderbal today. Bashir Ahmed Lone, Bank's President & Zonal Head for Kashmir Central and Mohammed Amin Khan, Cluster Head, Ganderbal jointly handed over 250 KCCs to the local farmers.
Lone in his presidential address said that J&K Bank was keen to bring all farmers, desirous of giving boost to agriculture, into the fold of KCC scheme. "Following RBI and Government of India's gesture of extending interest subvention clause to J&K Bank, we have devised a campaign to ensure every farmer in the service areas alloted to J&K Bank receives KCC as early as possible", he said.
Asking local youth to shun the "thirst for government jobs", Lone said that the key to success and financial fortune in an economy like J&K is to use agriculture and horticulture as enterprises and exploit their huge economic potential for individual empowerment and overall economic prosperity.
"Our youth need to take benefit from such schemes, make productive and scientific interventions to increase produce and improve quality. Your effort and our finance can help us explore the hidden treasures of our farming lands and orchards", he stressed, adding, "believe me, no business or government job can match the level of emotional satisfaction and economic gains that can be yielded through agricultural entreprenuership".
Seeking peoples' cooperation in making their bond with J&K Bank more firm, Lone stressed on the need of developing a community culture for realisation of loans. "Non-recovery of loans blocks circulation of money, which is a must for healthy economy. So, I would suggest a consultative approach at village and community levels for preparing people to not default on Bank loans. Village heads and educated people need to convince people that proper adjustment of loans is always in the interest of society of which we all are a part", he stated.
Mohammed Amin Khan, in his welcome address called for understanding of optimum utilization of the finance, available through KCC, to make it a productive initiative for individual financial empowerment in particular and for economic prosperity of the state in general.
Enumerating the benefits of KCC, Khan said that apart from being hasle-free and accessible to all, KCC, if adjusted within the stipulated timelimit, can be available at a meagre rate of interest of four percent.
"Though, as a product, it is available at 9%, but interest subvention of two percent as provided by the Government, reduces the rate of interest charged on farmer to 7%. Further, timely deposit of installments and adjustment of loans within specified time period entitles a farmer to further subsidy of 3%", he said, adding, "In nutshell, farmers making proper and efficient end use of finance and depositing their installments regularly, can avail finance through KCC at mere 4%".
He urged the farmers not to mistake KCC as a grant or gift. "It is a loan, available at extremely low rate of interest, designed to help you change your fortunes", he said
Apart from hundreds of farmers and KCC recipients, others present on the occasion included Mushtaq Ahmad, head b/u Manigam, Bashir Ahmed, head b/u Lar, local sarpanch and some panchs.
Lone in his presidential address said that J&K Bank was keen to bring all farmers, desirous of giving boost to agriculture, into the fold of KCC scheme. "Following RBI and Government of India's gesture of extending interest subvention clause to J&K Bank, we have devised a campaign to ensure every farmer in the service areas alloted to J&K Bank receives KCC as early as possible", he said.
Asking local youth to shun the "thirst for government jobs", Lone said that the key to success and financial fortune in an economy like J&K is to use agriculture and horticulture as enterprises and exploit their huge economic potential for individual empowerment and overall economic prosperity.
"Our youth need to take benefit from such schemes, make productive and scientific interventions to increase produce and improve quality. Your effort and our finance can help us explore the hidden treasures of our farming lands and orchards", he stressed, adding, "believe me, no business or government job can match the level of emotional satisfaction and economic gains that can be yielded through agricultural entreprenuership".
Seeking peoples' cooperation in making their bond with J&K Bank more firm, Lone stressed on the need of developing a community culture for realisation of loans. "Non-recovery of loans blocks circulation of money, which is a must for healthy economy. So, I would suggest a consultative approach at village and community levels for preparing people to not default on Bank loans. Village heads and educated people need to convince people that proper adjustment of loans is always in the interest of society of which we all are a part", he stated.
Mohammed Amin Khan, in his welcome address called for understanding of optimum utilization of the finance, available through KCC, to make it a productive initiative for individual financial empowerment in particular and for economic prosperity of the state in general.
Enumerating the benefits of KCC, Khan said that apart from being hasle-free and accessible to all, KCC, if adjusted within the stipulated timelimit, can be available at a meagre rate of interest of four percent.
"Though, as a product, it is available at 9%, but interest subvention of two percent as provided by the Government, reduces the rate of interest charged on farmer to 7%. Further, timely deposit of installments and adjustment of loans within specified time period entitles a farmer to further subsidy of 3%", he said, adding, "In nutshell, farmers making proper and efficient end use of finance and depositing their installments regularly, can avail finance through KCC at mere 4%".
He urged the farmers not to mistake KCC as a grant or gift. "It is a loan, available at extremely low rate of interest, designed to help you change your fortunes", he said
Apart from hundreds of farmers and KCC recipients, others present on the occasion included Mushtaq Ahmad, head b/u Manigam, Bashir Ahmed, head b/u Lar, local sarpanch and some panchs.