As of March 30, there were roughly 735 million KCC accounts, with an overall sanctioned loan limit of 8.85 trillion rupees. Official data indicates that in the current fiscal year, the government has distributed agricultural loans totalling 6,573.50 crore rupees at preferential interest rates from April to August. Furthermore, the advantages of the Kisan Credit Card scheme can also be extended to additional farmers, as non-KCC holders have been identified through the PM Kisan program.
Finance Minister Nirmala Sitharaman and Agriculture Minister Narendra Singh Tomar launched the Kisan Rin Portal. Through this portal, holders of the Kisan Credit Card (KCC) can avail the benefits of subsidized loans.
Benefits of Kisan Rin Portal
The PM Kisan Rin Portal, a digital platform, will furnish details concerning farmer data, loan disbursement updates, interest subsidy, and the scheme's overall progress. Union Finance Minister Nirmala Sitharaman has pledged the complete support of banks to ensure the success of the Ghar Ghar KCC Abhiyan.
What is Kisan Credit Card (KCC)?
The inception of the Kisan Credit Card Scheme (KCC) in 1998 was based on a model blueprint devised by the National Bank for Agriculture and Rural Development (NABARD). The primary objective of the Kisan Credit Card scheme was to streamline the procedure for farmers to secure prompt and sufficient loans. It was designed to aid farmers in procuring agricultural essentials like seeds, fertilizers, pesticides, and related endeavours.
KCC encompasses financial support for post-harvest expenditures, personal consumption requirements, and investments in agricultural and associated ventures. This program is executed through commercial banks, regional rural banks, and cooperative societies.
Kisan Credit Card Eligibility
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Individual farmers who are owners/cultivators.
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Joint borrowers, including tenant farmers, sharecroppers, etc.
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Self-help groups or joint liability groups of farmers.
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Farmers engaged in agricultural and allied activities.
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Fishermen, fisherfolk, SHGs, JLGs, and women groups.
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Fishermen with registered/recognized traditional fishing boats and those with necessary licenses or permits for fishing in the sea.
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Poultry farmers, including those owning layer/broiler birds.
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Dairy farmers, dairy entrepreneurs, SHGs, JLGs, and tenant farmers owning milch animals or those who lease land for dairy farming.
How to Apply for a Kisan Credit Card?
To apply for a Kisan credit card, you have the option to follow either an online or offline procedure.
Online Application Process
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Begin by visiting the website of the bank where you intend to apply for the Kisan Credit Card.
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Navigate to the list of available options and select "Kisan Credit Card."
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Click on the "Apply" option, which will redirect you to the application page.
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Complete the form by providing the necessary details, and then click "Submit."
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Upon submission, you will receive an application reference number.
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If you meet the eligibility criteria, the bank will contact you within 3-4 working days to proceed further.
Offline Application Process
Alternatively, you can opt for an offline application process. This can be done by visiting the branch of your chosen bank or by downloading the application form from the bank's website. With the assistance of a bank staff member, you can initiate the application process at the branch. Once all the requirements are fulfilled, the loan officer at the bank will guide the farmer through the loan approval process.
