Odisha CM Launches Common Credit Portal ‘SAFAL’ For Farmers With Access To 300 Term Loan Products

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Wednesday launched a common credit portal SAFAL (Simplified Application for Agricultural Loans) which will enable farmers to access over 300 term loan products of more than 40 banks.

“The application can revolutionise credit provisions for farmers and agri-entrepreneurs,” the Chief Minister said while launching the portal.

A programme was organised at the Convention Centre in Lok Seva Bhawan where the CM joined on virtual platform.

Expressing delight over the launch of the portal, Naveen said 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, he said.

Besides, it has been integrated with Krushak Odisha as well as the access to 70 plus model project reports, the CM said. 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, he assured.

The Chief Minister further said that SAFAL will also provide the government with complete visibility of demand and disbursal of formal credit across states and ensure schemes are designed in a data-backed manner.

He hoped that SAFAL would be a facilitator of credit to spur the agriculture and allied sectors in our State and increase the economic prowess of our farmers in the long run.

Describing farmers as the backbone of our economy, he said agriculture is the largest employer in the state in addition to being the key to socio-economic development of our people.

He added that his government, therefore, lays special emphasis on the development of farming sector through various interventions supported by a comprehensive and inclusive state agriculture policy with the government taking strides in increasing the income of farmers.

Finance Minister Niranjan Pujari appreciated the the CM’s vision for empowerment of farmers inclusion in the economic process.

Speaking on the occasion, Agriculture and Farmers’ Empowerment Minister Ranendra Pratap Swain outlined the steps taken by his department for economic development and welfare of farmers.