Meghalaya Cooperative Apex Bank launches Kishan Credit Cards

SHILLONG, April 1: The Meghalaya Cooperation Apex Bank (MCAB) launched the "Kishan Credit Card" scheme here yesterday. Distributing about 100 credit cards to the farmers of various service cooperatives under Shillong branch of the MCAB at a function, Meghalaya Cooperation Minister Roshan Warjri lauded the role played by the bank in assisting farmers of the State. Appreciating the KCC scheme as a new scheme for providing easy access to credit by the farmers, she called upon the bank to simplify the procedures to help the farming community to provide adequate and timely credit facilities. The minister lauded the MCAB as "the only bank which is concerned about the farmers and other citizens of the State" but pulled up other banks saying" the commercial banking sector has not been able to fulfil their promises and come up to the expectations." Additional Chief Secretary J Tayeng stressed the need of the State to have a proper cadastral survey and land reform measures to ensure proper ownership of the land and ensure increased flow of agricultural credit. MCAB Chairman G Mylliemngap said that against the target of 500 Kishan Credit Cards during the year, the bank has so far distributed 485 cards. With the poor recovery of loans in the State severely affecting the flow of fresh credit, all the speakers harped on timely repayment of loans by the borrowers.