SBI ‘KCC renewal-cum-recovery camp’ held

Recovery rate of KCC loans in Nagaland very low: SBI official  

Morung Express News
Dimapur | March 25  

State Bank of India (SBI) on Saturday organized a mega ‘KCC renewal-cum-recovery camp’ at SBI Regional Office, Super Market Complex.  

During the camp, SBI officials explained to KCC (Kissan Credit Card) holders on various aspects of KCC loan including renewal and recovery. KCC account holders also shared their experiences and problems relating to the loan.  

Meanwhile, talking to The Morung Express on the sidelines of the camp, Assistant General Manager, SBI Regional office Dimapur, Thangboi Lunkim, said the mega KCC renewal-cum-recovery camp was organized at the regional office taking into account the poor recovery rate of KCC loans in Nagaland state.  

Lunkim said the Government of India introduced KCC way back in 2000 to help poor and small farmers to increase their crop yield. KCC loans (normally below Rs. 1 lakh) are given for a period of five years, which are to be renewed every year. 

In Nagaland too, thousands of farmers who have availed the KCC loans are yet to repay their loans. “The recovery rate of KCC loans in Nagaland is very low, about 20% only. Medziphema area has the best repayment record while districts like Peren, Phek, Dimapur and Kiphire have the lowest recovery rate,” another SBI official informed.  

The SBI official said in Nagaland most farmers avail KCC loans for pineapple, potato, cabbage, bean farming and also piggery.  

On poor recovery rate, the SBI official said the bank is mulling to blacklist defaulting villages.