Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Gadi Beldaar’s is one of the owners of a Kisan credit card. With this card, she will be able to purchase agriculture goods and tools such as farming equipment, fertilizers and pesticides. She can also make transactions and withdraw cash without having to visit a branch of her bank. In addition, she can receive payments for goods sold to vendors on her Kisan card, which will mean a direct deposit in her bank account rather than relying on credit.
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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