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SBP promotes farmers’ financial literacy online

SBP promotes farmers’ financial literacy online

SBP promotes farmers’ financial literacy online

State bank of pakistan has produced films in national and regional languages to educate farmers.

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  • State Bank of Pakistan has produced films in national and regional languages to educate farmers.
  • Lower 15-year yields Farmers don’t grasp ag finance, hurting rural banks.
  • Next two movies discuss agricultural loan items, processes, and documentation.
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SBP has released movies in national and regional languages regarding agriculture finance products and procedures to educate farmers, especially in neglected areas.

State Bank Of Pakistan and all agriculture lending banks will distribute these movies on social media and digital platforms.

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Lack of farmer understanding of agriculture financing products and services is a difficulty for banks trying to access rural markets and provide formal financial services to farmers. SBP’s many programmes to promote and improve farm financing in the country focus on capacity building and awareness generation.
State Bank of Pakistan has organized awareness and capacity-building programmes for farmers, but farming communities still lack awareness of formal financial services.

Rapid internet penetration and rising smartphone use in the country have created an opportunity to use digital platforms to disseminate information instead of relying on limited-reach awareness events. Digital media not only helps distribute the information to a wider audience quickly and cost-effectively, but also improves comprehension and retention.

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The first video in this series addresses agriculture funding, SBP’s initiatives, and GoP’s programmes from a farmer’s perspective. This film has also been translated into Sindhi, Balochi, and Pashto to increase credit accessibility in underprivileged communities.

The next two movies in the series focus on crop and non-crop industries, including agriculture loan products, procedures, and documentation.

These videos should assist farmers gain bank credit. Agriculture lending banks will also post these videos on their social and digital media platforms. To expand SBP’s reach and encourage banks to create similar videos on product and financing prospects for agribusinesses.

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