Coconut Development Board-State Bank of debit card to Kerala farmers

Kochi: Coconut Development Board (SBT) and State Bank of Travancore (SBT) have jointly launched Kalpakashree debit cards for the coconut farmers who are members of the coconut producer companies in the State.

Card-holding farmers are eligible for term-loans for taking up plantation/ replantation of coconut trees with a period of 13 years. They can avail Rs. 1.26 lakh per hectare for rainfed and Rs. 1.50 lakh for irrigated gardens.

The cardholders are also eligible for short-term loans under Kissan Credit Cards scheme for maintenance of yielding coconut farms and for intercropping.

Farmers who repay short-term loans up to Rs 3 lakh can avail loans with 4 per cent interest.

CDB chairman said T K Jose said the target for this year is to distribute one lakh cards. “The cards are expected to make access to loans easier for the farmers,” he said.

Jeevan Das Narayan, managing director, SBT, said the card has many features which the farmers could make use of.