Indian Oil Corporation (IOC) has tied-up with the country’s largest lender State Bank of India (SBI) to implement the bank’s financial inclusion programme for farmers through its Kisan Seva Kendras (KSK). SBI will provide access to banking services for the farmers utilizing the IOC’s kiosks and also supplement their incomes by earning revenue on banking transactions.
The new SBI-IOC initiative will help farmers avail facilities and various banking products and services like bank accounts, term deposits, recurring deposits, micro-credit, remittances, social security schemes, Aadhaar Seeding through the kiosks.
IOC has set up around 6,500 KSKs in rural and remote areas which provide various agricultural services like diesel, seeds, fertilizers, pesticides and the like to the farming community.
