The RBI's plan to digitise Kisan credit lending can narrow the digital divide and boost rural banking with its knock-on effects.
In his memoir, former finance minister Yashwant Sinha had written about one of his key achievements as a member of the Vajpayee government. It wasn’t about the initial dismantling of the administered interest rate regime which opened the way for freeing up interest rates then or other reforms. It was a policy change, and a rather unglamourous one for the financial press, markets and analysts then. It was the launch of the Kisan Credit Card (KCC) scheme in 1998, in the first budget of the Vajpayee government.
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