Bank of India marks Kisan Divas with new support initiatives for farmers

New Delhi: The Bank of India celebrated Kisan Divas by unveiling a series of initiatives aimed at supporting the nation’s farmers, recognizing their vital role in ensuring food security. This year’s festivities included the launch of several new schemes designed to empower the agricultural community.

Under its Kisan Mah Utsav, the bank is promoting awareness of its financial assistance programs, which aim to bolster the development of the farming sector. Key highlights of the campaign include the Star Farm Mechanization Scheme and the Star Krishi Vahaan Scheme, both offering financial aid for purchasing agricultural equipment and vehicles. These schemes feature concessional interest rates starting at 8.90% and waive proposal processing charges entirely.

In addition to these flagship schemes, the Bank of India provides a comprehensive array of financial assistance options. The Kisan Credit Card Scheme offers easy access to credit for various agricultural needs, including interest subvention. For those with produce stored in accredited warehouses, the E-Warehouse scheme provides financial aid against electronic warehouse receipts. The Star Doodhganga Scheme supports dairy farming activities, while the Star Poultry Development Scheme focuses on poultry farming. 

The Star Pisciculture Scheme is tailored for marine, brackish, and inland fisheries, and the Star Food and Agro Processing Scheme offers financial support for food and agro-processing units. Additionally, the Star Self-Help Groups scheme empowers women through financial aid for economic activities, and the Star Sakhi Scheme provides financing to individual self-help group members, in line with the Government of India’s Lakhpati Didi Scheme. The Atmanirbhar Yojana supports self-reliance initiatives under the Government’s flagship program, and the Warehouse and Cold Storage scheme offers infrastructure support for storage and preservation.

Among these, the Kisan Credit Card Scheme stands out for its low interest rates, transparent terms with no hidden charges, and minimal documentation requirements, designed to make credit timely, need-based, and more accessible for farmers. This initiative aims to ease financial burdens, enabling farmers to invest in better practices, and equipment, and ultimately, enhance productivity and income.

Bank of India’s commitment to farmers extends beyond financial support. By providing essential resources and infrastructure, the bank seeks to boost agricultural productivity and improve livelihoods, fostering a more resilient and prosperous sector.