Saturday, September 15, 2012

KISAN CREDIT CARD SCHEME MODIFIED

The Reserve Bank of India (RBI) has removed the twelve months repayment period on the loans
taken by farmers on Kisan Credit Cards (KCC). The Reserve Bank of India (RBI) also said that
now the banks might fix repayment period according to the anticipated harvesting and
marketing period for the crops for which a loan has been granted. The Central bank also said the
extent prudential norms for income recognition, asset-classification and provisioning would
continue to apply for loans granted under revised KCC schemes.

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