"Kisan Card" Initiative Empowers 2,500 Farmers in Kailali and Kanchanpur

Dhangadhi: The transformative 'Kisan Card' initiative has been successfully rolled out, benefiting 2,500 farmers in the districts of Kailali and Kanchanpur.

Implemented through the SISA project, the 'Kisan Card' aims to streamline agricultural transactions for farmers, enabling them to easily acquire seeds, fertilizers, equipment, and secure loans from banks. Under the SISA project, two distinct types of cards have been issued to farmers, facilitating the purchase of equipment through a debit card and accessing loans from banks through a credit card.

The initiative has already yielded positive outcomes, with 250 cardholding farmers receiving subsidized loans without the need for collateral. These loans, ranging from 25 thousand to 15 lakh rupees, have empowered farmers to invest in their agricultural endeavors. Additionally, over 200 individuals have availed themselves of the opportunity to purchase essential agricultural equipment.

Banks participating in the project have committed to providing loans to farmers holding 'Kisan Cards' without the requirement for collateral. The initiative is part of a broader agreement between banks, financial institutions, businessmen, and farmers, fostering a collaborative approach to agricultural development.

In aligning with the digital age, the 'Kisan Card' initiative encourages farmers to embrace digital banking, fostering financial inclusion and efficiency in agricultural transactions. Notably, the concept of the 'Kisan Card' originated in India in 1990 and has gained traction in Nepal with its inclusion in the 19th and 20th Monetary Policy by the Nepal Rastra Bank.

While the lack of a specific policy for 'Kisan Cards' in Nepal has posed some challenges, the commitment from both the government of Sudurpaschim Province and the Nepal Rastra Bank signals a positive trajectory for the continued development and adoption of the 'Kisan Card' initiative in the country.