Context:
Union Food Minister Pralhad Joshi unveiled the ₹1,000-cr scheme to provide a credit guarantee to post-harvest loans for farmers.
Key Highlights:
- Union food and civil supplies minister Pralhad Joshi launched a ₹1,000 crore credit guarantee scheme to enable farmers get their post-harvest loans
- The corpus fund for bank loans against approved warehouse receipt will encourage banks to lend loans so it will bring financial inclusion and also benefit the vendors that pay maximum share of their profit in the form of interest to money lenders while implementing the Mudra.
- The scheme would prevent distress sales by farmers by bringing all warehouses in its fold.
- Chopra emphasized the need for improving the e-Kisan Upaj Nidhi portal, increasing farmer awareness about pledge finance, reviewing depository charges and increasing warehouse registrations.
E-Kisan Portal
- Online platform for farmers to avail post-harvest loans.
- Jointly created by Department of Food and Public Distribution, WDRA, Department of Financial Services, and NABARD.
