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Odisha Govt Launches Common Credit Portal For Farmers

By LokMarg 26th October 2022

Odisha Chief Minister Naveen Patnaik Wednesday launched a common credit portal SAFAL’ (Simplified Application for Agricultural Loans) for the welfare of farmers.

The application can revolutionize credit provisions for farmers and agri-entrepreneurs, he said.

The facility will enable farmers and agri-entrepreneurs to access more than 300 term loan products of over 40 banks, the chief minister said while launching the portal.

Expressing delight over the launch of the portal, the CM said that the application is a one-stop solution for farmers and agri-entrepreneurs to avail formal sector credit from Public and Private sector banks, Regional Rural Banks, State Cooperative Banks, and Small Finance Banks.

With this facility, the CM said, farmers and Agri entrepreneurs will have access to more than 300 term loan products being offered by 40 plus partner banks.

Patnaik said that SAFAL will also provide the government with complete visibility of demand and disbursal of formal credit across states and ensure schemes are designed in a data-backed manner.

“It will ease the loan application process benefiting both the farmers and banks significantly. The portal will also reduce information asymmetry by sending farmers real-time notifications at every stage of their loan application,” he assured.

He hoped that SAFAL would be a facilitator of credit to spur the agriculture and allied sectors in Odisha and increase the economic prowess of farmers in the long run.

Earlier, he said that farmers are the backbone of our economy, and agriculture is the largest employer in the state in addition to being the key to the socioeconomic development of our people.

He added that his government, therefore, lays special emphasis on the development of the farming sector through various interventions supported by a comprehensive and inclusive state agricultural policy with the government taking strides in increasing the income of farmers.

Finance Minister Niranjan Pujari appreciated the CM’s vision for the empowerment of farmers’ inclusion in the economic process.

Speaking on the occasion, Agriculture and Farmers’ Empowerment Minister Rajendra Pratap Swain outlined the steps taken by his department for economic development and the welfare of farmers.

Agriculture Production Commissioner-cum-ACS Sanjeev Chopra highlighted the achievement of Odisha in the agriculture sector. (ANI)