agricultural loans Current Affairs, GK & News

SAFAL – Odisha’s common credit portal

October 28, 2022

Odisha Chief Minister Naveen Patnaik launched the common credit portal SAFAL to increase farmers’ access to loans. What is SAFAL? SAFAL (Simplified Application for Agricultural Loans) is India’s first online agricultural credit facilitation portal. This common credit portal eases access to over 300 term loan products provided for farmers and agri-entrepreneurs. These term loan products ..

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How is the satellite data used for Farm credit assessment by banks?

August 27, 2020

Indian multinational banking and financial services provider ICICI Bank has announced that it is going to use the satellite data-imagery from earth observation satellites to assess the creditworthiness of the farmers seeking loans. ICICI is the first bank in India to take such a step. The assessment Using the data it will measure an array ..

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PSBs disbursed Rs 4.91 lakh crore under the Customer Outreach Initiative in October and November 2019

December 4, 2019

In September 2019, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, announced the launched the Customer Outreach Initiative by the Public Sector Banks (PSBs) of India. The initiative aimed towards providing support to the needs of the economy by improving credit delivery or the credit outflow with a primary focus on NBFCs, MSMEs, ..

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