Ghar-Ghar KCC Abhiyaan Aims to Enhance Financial Inclusion and Support for the Fisheries Sector

The meeting chaired by Secretary (Fisheries) Dr. Abhilaksh Likhi marked a significant step towards increasing financial inclusion and support for the fisheries sector. Emphasizing the need to cover every eligible individual in the fisheries value chain, Dr. Likhi urged the participants to reduce rejection rates and expedite approval processes for KCC applications. Joint Secretary DoF, Shri Sagar Mehra, discussed the campaign's objectives, including universal financial inclusion, and highlighted the importance of effective State and bank participation. With 1,59,903 KCCs sanctioned worth Rs 1746.16 Crore, the campaign aims to increase awareness of RBI guidelines and decrease rejection rates.

Key Takeaways:

The Ghar-Ghar KCC Abhiyaan seeks to expand KCC facility to the last mile of the fisheries value chain, ensuring every eligible individual is covered.
The campaign aims to achieve universal financial inclusion, ensuring every farmer has unhindered access to credit facilities driving their agricultural pursuits.
The joint secretary highlighted the importance of effective participation from States/UTs and banks for the successful implementation of the Abhiyaan.
Issues such as documentation and bank procedures are major concerns for beneficiaries.
As of now, KCCs worth Rs 1746.16 Crore have been sanctioned for 1,59,903 beneficiaries.
There is a need to increase awareness on latest RBI guidelines regarding eligibility for fishers to get KCC.
Analysis of rejection of applications and corrective measures need to be taken by banks and other stakeholders to enable maximum beneficiaries to get the benefit.
States/UTs have assured full cooperation during the ongoing Abhiyaan, highlighting their willingness to mobilize applications and address challenges like eligibility criterion and documentation.
Major participants, including NABARD, Scheduled Commercial Banks, the Department of Agriculture & Farmers Welfare, and RBI, have assured special focus on the 'Ghar-Ghar KCC Abhiyaan for Fisheries sector.

Statistics:

1,59,903 KCCs sanctioned as part of the campaign.
Worth Rs 1746.16 Crore sanctioned for KCCs.
Special KCC campaign during Sagar Parikrama is encouraging, with efforts being made to execute the 'Ghar-Ghar KCC Abhiyaan successfully.

Sources:

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