In 2019, the Government of India extended the facility of Kisan Credit Card (KCC) to fishers, with an aim of helping them to meet up their short-term working capital requirements.
KCC holders for fisheries have the credit limit of INR 2 lakh. Interest subvention is available @ 2% per annum on the timely disbursal of loan and additional interest subvention @ 3% per annum, in case of prompt repayment.
Eligibility of KCC (Fisheries) –
Fishers, Fish farmers (individual and groups/partners/share croppers/tenant farmers), self help groups, Joint Liability Groups and Woman groups are eligible for KCC.
- Inland Fisheries and Aquaculture:
Beneficiaries must own or lease any of the fisheries related activities such as pond, tank, open water bodies, raceway, hatchery, rearing unit, possess necessary license for fish farming and fishing related activities, and any other State specific fisheries and allied activities.
- Marine Fisheries:
Beneficiaries, who own or lease registered fishing vessel, boat, possess necessary fishing license/permission for fishing in estuary and sea, fish farming/mariculture activities in estuaries and open sea and any other State specific fisheries and allied activities
Execution of the scheme –
- District Level Technical Committee (DLTC) fixes the scale of finance, based on local cost worked out on the basis of per acre/per unit etc.
- Working capital components in fisheries, include recurring cost towards seed, feed, organic and inorganic fertilisers, lime/other soil conditioners, harvesting and marketing charges, fuel/electricity charges, labour, lease rent (if leased water area) etc.
- For capture fisheries, working capital include the cost of fuel, ice, labouring charges, mooring/landing charges etc. may form part of the scale of finance.
- Experts form Fisheries and Animal Husbandry departments, may be made members of the DLTC for giving technical inputs for assessing the cash credit requirement.
- Progressive entrepreneurs of livestock/fisheries sector may also be included in the DLTC for providing field level inputs while assessing the working capital requirements.
Monitoring is carried out through, field visits to the site of unit/project by the branch officials for checking the progress of the unit.
Banks will periodically review the facility and continue/withdraw/scale down the facility based on the performance of the borrower.
(Source: PIB)
