FM Sitharaman Urges Fisherfolk to Avail Govt's New Schemes to Boost Business

By: WE Staff | Monday, 23 September 2024

Union Finance and Corporate Affairs Minister Nirmala Sitharaman, gave a call to the Indian fishing community to opt for the benefits being given out through the Kisan credit card, since it would help improve their trade.

The Union Minister was speaking at a BJP membership drive on Sunday, where she stated that the members of the fishing community who had faced rejected applications by banks and financial institutions, could approach her for redressal.

In her address, Nirmala Sitharaman, stated that PM Modi created a dedicated department to address fisheries related issues. "There are a lot of schemes for the welfare of the fishermen and they can avail term loan facilities to grow their businesses,” she said.

She also highlighted the dedicated Kisan Credit Card which was launched by the Centre to empower farmers' community. Sitharaman said that PM Modi believed that a similar mechanism must be created for individuals engaged in in ocean farming along India's coastline.

"It is not only to serve the Tamil Nadu fishing community but also those who are living along India's coastline for thousands of years." She said that women folk from the community are also eligible
to avail the term loans from banks and financial institutions through the Kisan credit card.

"Normally, to take loan from banks one has to provide security like furnishing his or her house document or jewellery. But to avail loan under the KCC, the government will give you guarantee on your behalf, so that you may get the services from banks and financial institutions," she said.

In her address Sitharaman recommended the fishermen to export their products. "You have to look for exports to boost your businesses."

The FM also spoke about the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme that has also been introduced by the government to help provide collateral free working capital loans to street vendors.