Kisan Credit Card is a very popular scheme which is officially launched in the year 1998 to perfectly support by simply providing adequate and timely credit support from the banking system. As this scheme is generally based on the target to maintain the proper lifestyle of poor farmers from the Animal Husbandry, Dairying & Fisheries Sector with Banks & Regional Rural Banks. The government has already taken several initiatives for KCC saturation, including adding farmers engaged in animal husbandry and fisheries, which can simply help all those working in those sectors for a better future.
While this Kisan Credit card scheme directly came under the support of the central government which is why the scheme also comes with a proper ATM-enabled RuPay debit card with several different facilities for one-time documentation, built-in cost escalation in the limit, and any number of drawers within the limit so that they can use it wisely. As this scheme simply provides a single window with some flexible and simplified procedures to all those farmers for their proper cultivation and other needs like the purchase of agriculture inputs such as seeds, fertilizers, pesticides etc. and drawing cash for their production needs.
Brief Description of Project
|Name of Scheme||Kisan Credit Card (KCC) Scheme|
|Scheme benefits||This Scheme will help different poor farmers who are unable to do their work and are financially unstable in certain fields of work.|
|Objective||Under this Scheme, several Kisan Credit Cards should be issued to farmers based on their holdings so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc.|
What is Kisan Credit Card?
Kisan Credit Card is a very popular scheme which is directly focused on maintaining the proper lifestyle of several farmers and different people who are in the sector of some specific sectors. According to the Ministry of Agriculture and Farmers Welfare report there is currently 6.92 crore live KCCs, against 14.5 crore operational landholdings which is a huge success for this scheme. Besides this scheme also ensure the proper saturation, as well as the banks, will also be taking steps to properly link their Aadhaar immediately as no interest subvention will be given if the Aadhaar numbers are not seeded to KCC accounts which can be resolved.
The benefit of this particular scheme as the Kisan Credit Card is also based on those farmers who are currently engaged in the section of animal husbandry and fisheries, with no processing fee for the loan under KCC and raising the limit of collateral-free agriculture loan from ₹ 1 lakh up to ₹1.6 lacks. As it is also true that the government of India simply also implements the proper interest subvention scheme of about 2% for short-term crop loans up to Rs. 3 lakh which can be very beneficial for all those poor farmers. As this particular scheme was later further extended for the investment credit requirement of farmers with allied and non-farm activities in the year 2004.
Major Objectives of the Kisan Credit Card Scheme
This particular scheme also follows some of the major points which we must understand before applying for this scheme from the official website which is stated below. As this KCC Scheme simply covers proper post-harvest expenses as well as directly produce marketing loans, consumption type requirements for all farmer households, their working capital for maintenance of farm assets and several different activities which are allied to the sector of agriculture, investment credit requirement for agriculture and some other allied activities which are the important aspects of this scheme for the development of our country.
As this particular Kisan Credit Card scheme simply aims to provide perfect short-term crop loans of up to ₹3 lahks to farmers at an interest rate of 7 per cent per annum which can easily help them in their farming methods. While with the help of this scheme add well as all the results of these concerted efforts, a major milestone target of covering more than 1.5 crore farmers under KCC, with a sanctioned credit limit of Rs. 1.35 lakh crore has already been achieved which can also motivate many other farmers to simply participate in this scheme as the interest Subvention Scheme is being also directly implemented by NABARD as well as by RBI.
However, under this scheme, there are some necessary as well as an important recommendation which is about all the Banks they must follow according to the specific Guidelines of the KCC scheme properly. The proper acknowledgement of the KCC application should also be given to all the different applicants and a fixed timeline decision on the application should be fixed to maintain this scheme properly. As we already discussed that this scheme comes with an ATM-enabled RuPay debit card with facilities for one-time documentation, built-in cost escalation in the limit, and any number of drawers within the limit.
Kisan Credit Card Scheme 2023 Key Highlights
|Portal||Kisan Credit Card (KCC) Scheme|
|Launched by||Central Government Scheme|
|Ministry Control||Ministry of Agriculture and Farmers Welfare|
|Objective||This Scheme will provide Kisan Credit Cards which should be issued to farmers based on their holdings so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc.|
|Benefits||To provide all those poor farmers who are unable to do their work and are financially unstable a proper card which they can use to fulfil their needs.|
|Official Website||Click Here|
Achievements and Benefits of Kisan Credit Card
There are several achievements which are gained by this particular scheme and made this scheme one of the essential schemes which can easily provide huge benefits to all poor farmers who want to participate in this scheme. While different banks have already kickstarted recently due to this Kisan Credit Card (KCC) saturation campaign, for giving Kisan Credit Card loans to poor farmers who have not been given such loans yet. There Working capital for the maintenance of farm assets and activities will directly be allied to the different agriculture mediums for better growth as well as huge yield so that they can maintain their lifestyles.
It is also true that this particular Kisan Credit Card scheme is the part of Aatmanirbhar Bharat package and gained a lot of support directly from the central government as part of this Atmanirbhar Bharat Package, the Government has also simply announced to cover over 2.5 crore farmers under the Kisan Credit Card (KCC) scheme with a credit boost of Rs. 2 lakh crores through a special saturation drive for their better future. While because of these methods, a major milestone target of covering more than 1.5 crore farmers under this KCC scheme, with a direct sanctioned credit limit of around Rs. 1.35 lakh crore has already been achieved.
Key Features of the Kisan Credit Card Scheme
There are some special key points which came directly under this particular scheme and you can read them all from the official website of this scheme. Under this Kisan Credit Card scheme, the government has taken several initiatives for KCC saturation which include adding farmers engaged in animal husbandry and fisheries, no processing fee of the loan under KCC and raising the limit of collateral-free agriculture loan from ₹ 1 lakh to ₹1.6 lacks. While there are other key points that we are going to understand from the below section of this post which is based on this KCC Scheme for poor farmers so that they can live a better life.
Key Features :
- This scheme will provide an ATM-enabled RuPay debit card with simple facilities for one-time documentation as well as built-in cost escalation in the limit.
- The government has already taken several initiatives for KCC saturation which include adding farmers engaged in animal husbandry and fisheries.
- KCC Scheme simply covers post-harvest expenses, produce marketing loans, and consumption requirements of different farmer households.
- The government of India also implements an interest subvention scheme of 2% for short-term crop loans up to Rs. 3 lahks.
- This Kisan Credit Card Scheme is implemented by Commercial Banks, RRBs, Small Finance Banks and Cooperatives.
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I hope after reading a lot of things about this Kisan Credit Card Scheme and you will get a lot of knowledge and all your queries regarding this scheme are now get solved. But if you still have any queries regarding this scheme then without any hesitation ask us in the comment box given below. We gave hours of research and dedication to make this particular scheme so it is full of informational and educational types.