Bhubaneswar : CM Naveen Patnaik today launched a Common Credit Portal SAFAL, a Simplified Application for Agricultural Loans. Launching the portal, the CM said that the application can revolutionise credit provisions for farmers and agri-entrepreneurs.
Expressing delight over the launch of the portal, 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 farmers and agri entrepreneurs will have access to more than 300 term loan products being offered by 40 plus partner banks. Besides, he added, it has been integrated with Krushak Odisha as well as the access to 70 plus model project reports.
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.
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