Reported by: banking|Updated: February 9, 2017
The government has decided that Nabard will be the coordinating entity for the conversion of operative/live Kisan Credit Cards into RuPay ATM cum debit Kisan Credit Cards. These cards will be issued by cooperative banks and regional rural banks on priority. The conversion will enable farmers to do financial transactions on digital platform. Apart from the smooth transactions, the conversion is also expected to mark an increase in the frequency of funds accessed by the farmer, with the expected ease in withdrawing cash as and when required. Prime Minister Narendra Modi, in his New Year’s Eve address, had announced the initiative of converting over 3 crore Kisan Credit Cards into RuPay cards.