Citi-SBI $295 Million Social Loan for Small Farmers
Why in the news
Citi and State Bank of India announced a social loan facility to channel funds to small farmers through SBI’s Kisan Credit Card book.
Key facts
- Facility size: $295 million social loan from Citi to SBI.
- Routed via SBI’s Kisan Credit Card (KCC) portfolio; structured by Citi’s Trade & Working Capital Solutions.
- Targets small and marginal farmers, especially underserved groups lacking formal credit.
Objectives
- Give essential credit to farmers with little land and encourage better farming methods and equipment.
- Support the government’s vision of financial inclusion and rural development.
Significance
- Combines Citi’s financial innovation with SBI’s wide rural network, backing sustainable agriculture.
Exam angle
- Facility: $295 million social loan, Citi to SBI.
- Related terms: financial inclusion, KCC, social loan.