Digital currency comes to farmers’ aid

To provide benefits of softer agricultural loans to landless farmers, NABARD has initiated pilots in selected districts of Andhra Pradesh and Odisha aimed at providing benefits of kisan credit cards (KCCs) through RBI’s central bank digital currency (CBDC).

State Bank of India is currently running pilots in Krishna, west Godavari, and east Godavari districts of Andhra Pradesh and Cuttack and Puri districts in Odisha, where digital currency is being used for supporting tenant farmers for usage for purchasing feriliser, seeds and seeds through identified vendors.