Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Laalman Yadav is a 73-year-old farmer who travels on his bicycle every day to the Chappiya milk collection centre. Here he sells around 10 litres of milk produced by his buffaloes. Through the use of his Kisan credit card, which his son encouraged him to get, he is able to keep track of his finances and do cashless transactions.
In Nepal, RPSF funds supported laying the foundation for scaling-up the upcoming VITA project. The project will implement a new credit card and mobile phone application for money and information transfers and automated loan processing. The RPSF grant accelerated the roll-out of Kisan cards (in Nepalese, kisan is a farmer) and app providing digital financial services, automatic loan processing, reducing face-to-face transactions and promoting financial literacy and savings to build resilience.
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