Kathmandu. Banks have started issuing Kisan Credit Cards with the objective of providing modern financial services to commercial farmers. The Nepal Rastra Bank (NRB) had announced to provide 'Kisan Credit Card' through the Agriculture Development Bank to provide financial resources as well as agricultural information to the farmers through the monetary policy of the current fiscal year. As per the said provision, the Agriculture Development Bank as well as other commercial banks have started operating similar services. So far, Mega and Civil Bank have launched credit card services targeting commercial farmers.

The Agriculture Development Bank has formally launched Kisan Credit Card on the occasion of its annual festival. Anil Kumar Upadhyaya, chief executive officer of the bank, said that the service has been brought in operation to provide market information in addition to financial services to commercial farmers who have taken agricultural loans from the bank.

Mega Bank has also launched 'Mega Kisan Card' service. Mega Bank has introduced 'Mega Smart Agriculture' service with 'Mega Kisan Card' giving priority to commercial farmers. The bank has made arrangements for the farmers to purchase various items related to agricultural produce including fertilizer, seed vision, etc. from the designated service centers.

Similarly, Civil Bank has started Kisan Samridhi Card service. The bank has made arrangements for the customers involved in the agricultural profession to save their income from agriculture on a regular basis and withdraw the savings in case of need and if there is not enough, they can also withdraw more amount in the form of loan from the same account.

In order to increase access to finance in the agricultural sector, the NRB has increased the credit limit for commercial banks to invest in the agricultural sector through the current fiscal year's monetary policy. Accordingly, banks are required to invest 15 percent of the total loan in the agricultural sector by mid-July 2080.