Kisan Credit Card scheme: The PM Kisan Credit Card (KCC) scheme was introduced to provide farmers with essential funds for crop production. This was Launched in 1988, the KCC offers timely credit for farming and gives farmer’s short-term loans at less interest rates. It is also known as the Pradhan Mantri Credit Card Yojana, was introduced by the Government of India. The government also supports kcc scheme with an interest subvention of 2% and a Prompt Repayment Incentive of 3% and rate of intrest down to 4% per annum. Regional Rural Bank, small finance bank, and cooperatives are responsible for implementing kisan credit card scheme.
Key Objective Of KCC
1. KCC scheme gives short-term credit requirements for crop cultivation.
2. The KCC scheme ensures that farmers have access to credit to manage these post-harvest activities effectively.
3. The KCC Provides farmers Produce Marketing Loans.
4. The KCC scheme provides working capital for maintenance of farm assets for farmers.
Features of Kisan Credit Card
The following are features of the kcc cards :
1. KCC comes in the form of ATM card so that farmers can withdraw money easily .
2. The limit of kcc lies between Rs.10,000 to Rs. 50,000 depending on their types of cultivation and maintenance expenses.
3. KCC scheme insure that farmers can repay their debut after harvesting.
4. The limit of kcc increase annually depending on the repayment history of farmers.
5. The KCC insures hassle-free documentation process.
Benefits of Kisan Credit Card
The followings are the Benefits of Kisan Credit Card.
1. The kcc scheme gives reasonable intrest on their credit.
2. The kcc scheme avails farmers of benefits of government Subsidies for agriculture supplies.
3. The kcc scheme insure about flexible payment for the farmers.
4. KCC Scheme gives farmers Personal accident insurance coverage.
5. In kcc credit is available for up to 3 years.
Eligibility Criteria for Kisan Credit Card
Following are eligibility criteria for kcc:
1. According to this kcc scheme farmer age must be minimum 18 years.
2. According to scheme farmer age must be maximum 75 years.
3. A farmer who is both cultivator and the owner can apply for this scheme.
4. A farmer who involves in crop production activities can apply for this scheme.
Documents Needed To Apply For The KCC Scheme
1. A detailed filled application form.
2. Copy of documents such as Aadhar card , Voter id cards etc.
3. Address proof.
4. Property and land proof.
5. Pass word size photo.
How To Apply For The KCC Scheme
1. Visit bank official website.
2. Choose option kisan credit card.
3. Click on “Apply”.
4. Fill up the Form with related information.
5. Click on “submit”.
6. Your bank will reach you in 3-4 working days.
Conclusion
This the government scheme established to provide support and for well fare of farmers. It gives high rate of interest to the farmers. This scheme provides KCC cards to farmers and it like debit card.
