As far as farmers go, Ujjivan Small Finance Bank’s (SFB) Kisan Suvidha loans may be an answer. As one of the first in its category, Ujjivan SFB offers collateral-free loans to farmers.
The bank loans out to agriculture as well as allied activities. These loans will help support the farmers and their various skills, i.e fishery, sheep rearing, sericulture, floriculture, mushroom farming, etc.
Such loans will also cover dairy purchase and maintenance, post-harvest transportation, farm implements purchase. Ujjivan Bank Kisan Suvidha will also tend to coconut farm maintenance and vegetable farm development.
States like Tamil Nadu, West Bengal, Karnataka and Odisha can benefit from this loan facility. These collateral free loans range from Rs 60, 000 – Rs 2 lakhs.
Samit Ghosh, MD & CEO of Ujjivan SFB has said “We are pleased to announce the launch of Ujjivan Bank Kisan Suvidha loan for our farmers. This product is designed to cater to the needs of customers for various allied and agricultural activities. It is our endeavor to reach out to the bottom of the pyramid with our products and serve the unserved and under-served.”
Ujjivan SFB began operating in Feb 2017. It had its pilot branches in Bangalore. Today it has 450 plus branches spread over 24 States and Union Territories.
Ujjivan Small Finance Bank has given the farmers a ticket to enter into the formal banking system.
