Indian Bank offers loans for fishermen

Chennai , Oct 1:

Indian Bank has unveiled a new Kisan Credit Card loan scheme for fishermen in Tamil Nadu, offering a revolving credit of up to Rs two lakh.

The loan would be provided at seven per cent interest rate with an interest subvention of three per cent to those who repay the loan within a period of one year, the city- headquartered bank said in a statement.

A RUPAY Kisan Credit Card would be issued to customers for the loan provided under the Centre’s MUDRA scheme.

To avail the bank’s services, fishermen need to submit their applications through the department of fisheries, along with details of the mechanised boat, it said.

It may be recalled earlier during mid-May, Finance Minister Nirmala Sitharaman released the third tranche of the ₹20 lakh crore economic package today with a focus on agriculture, fisheries, and allied activities. In the previous two parts of the package, FM’s focus was on MSMEs, NBFCs, MFIs, migrant workers, street vendors, and small farmers.

She had extended 20,000 crore for fishermen through the Pradhan Mantri Matsya Sampada Yojana.

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