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Central Bank of India will issue a special credit card for consumers engaged in farming and allied activities, the Hyderabad-based bank announced last week. Called the Cent Kisan Gold Card, the card will enable holders to get a credit limit of up to 1 million rupees (US$20,467 or 14,664 euros) for five years based on the value of the land they own used for farming and such related activities as creation of assets from farm equipment, tools, pumps and tractors, the bank said in a statement. The annual percentage rate on the cards will range from 7% to 8.5%, depending on the nature of activities and land values, the bank added. Bank officials did not respond to CardLine Global requests for further comment.
