The year 2020 is about end with an optimistic note to agricultural sector although it witnessed a lot from corona pandemic to farmer's protest. Although government has launched many schemes for farmers, the new agricultural laws has invited lots of unwanted protest nationwide in the last months.
However, Kisan Credit Card has been one of the most popular schemes throughout the year. As per the latest report, KCC form has been given on the website of PM Kisan Scheme.
On the other hand, there is a clear instruction from the government side that banks should take only 3 documents and give loans only on the basis of that. Aadhaar card, Pan and photo will be taken to make KCC. Also, an affidavit will have to be given which mentioned that you have not taken loan from any other bank. At present, there are about 6.67 crore active KCC accounts.
Which Banks make KCC?
Co-operative Bank, Regional Rural Bank, National Payments Corporation of India, State Bank of India, Bank of India and Industrial Development Bank of India.
How to Download Form?
To download the KCC form, visit the official website pmkisan.gov.in. On the right side of the former tab in the website, the option of Download Kisan Credit Form (Download KKC Form) is given. From here print the form and fill it and go to the nearest bank and submit it. The government has kept the validity of the card for five years.
Interest on KYC
Loans up to Rs 3 lakh are provided to farmers from KCC. Although the interest rate on the loan is 9 percent, but on KCC, the government gives a subsidy of two percent.
Loans at the rate of 7 percent
In this way, the farmer gets a loan at the rate of 7 percent on KCC.
Excess interest rebate on loan
In this case, if the farmers repay the loan before time, then they get a further rebate of up to 3 percent on the interest. That is, the total interest remains at 4 percent.
Govt has Extended the Benefits of KCC
Kisan Credit Card Yojana KCC was launched to provide loans to farmers at low interest rates. But still about 42 percent of the farmers have not joined this scheme. Recently, the Central Government has extended the benefit of the Prime Minister Kisan Samman Nidhi (PM Kisan Yojana) to all those farmers.
Kisan Credit Card Scheme will now be added to cattle farmers and fishermen too which will provide guaranteed free loan. Under this Kisan Credit Card Yojana, about 14 crore farmers of the country will be given insurance guarantee loans.
Kisan Credit Card New Update
India is going through the corona virus crisis which has affected all industrial, agricultural and financial operations.
Therefore, to give relief to the people institutions of the country, RBI has announced a moratorium on the next three months on all debt redemption. Therefore, the debt of all the farmers who have taken the loan against it will be covered under this corona relief package
