Centre has come up with many initiatives to help farmers meet their financial need for kharif sowing and other related activities.The Modi government on Monday has approved a cheap loan of Rs 89,810 crore to about 1.1 crore Kisan Credit Card (KCC) holders. Moreover, on repaying this loan on time, only 4 percent interest will be charged annually.
Concessional Loan of Rs 2 Lakh Crore to 2.5 Crore Farmers
Finance Minister Nirmala Sitharaman on Monday announced that banks have sanctioned Rs 89,810 crore to about 1.1 crore Kisan Credit Card (KCC) holders to help farmers meet finances for kharif sowing and allied activities.
Important Things Related to Kisan Credit Card
Kisan Credit Card (KCC) is a very important scheme for small farmers. Through this, loans worth Rs 1.6 lakh are being given to farmers without any guarantee. At the same time, farmers can take loans up to Rs 5 lakh through this in 3 years. The interest rate in this card is also very low at 4 percent per annum. Now it has also been linked to PM Kisan Samman Nidhi. If you also want to take advantage of the scheme, then it is important to keep all the necessary information about it.
111 lakh KCC issued
Finance Minister Nirmala Sitharaman has tweeted that as of July 24, 2020, out of a concessional loan of Rs 2 lakh crore under the Self Dependent India Package, a total of Rs 111.98 lakh Kisan Credit Card approved loan of Rs 89,810 crore Has been given This will benefit fishermen and dairy farmers. He said that till June 30, loans worth Rs 62,870 crore had been approved to 70.32 lakh KCC holders.
How Can You Get Kisan Credit Card?
Through the Kisan Credit Card, farmers can take a short-term loan of up to Rs 3 lakh in 5 years. Although the loan is available at the rate of 9 percent, but the government gives a subsidy of 2 percent on it. In this sense, it was 7 percent. On the other hand, if the farmer returns this loan on time, then he gets a further rebate of 3 percent. That is, on this condition, he has to pay only 4 percent interest on the loan.
Validity of the Kisan Credit Card is 5 years
Loans up to Rs 1.6 lakh are now being given without guarantee. Earlier this limit was Rs 1 lakh. Notified crops / notified areas on all KCC loans are covered under crop insurance.
How to apply for KCC?
For this, you have to first go to the official site https://pmkisan.gov.in/. Download the Kisan Credit Card form here. You will have to fill this form with the documents of your land, details of the crop. You will also have to provide information that you have not made any other Kisan Credit Card from any other bank or branch. Submit the application by filling, after which the farmer from the concerned bank You will get a credit card. Which documents are required for ID proof: Voter ID card / PAN card / Passport / Aadhaar card / Driving license etc.Address proof: Voter ID card / passport / Aadhaar card / driving license etc.
FromWhere You Can Get Kisan Credit Card?
KCC can be obtained from any co-operative bank, Regional Rural Bank (RRB). This card can also be taken from SBI, BOI and IDBI Bank. National Payments Corporation of India (NPCI) issues RuPay KCC.
Source – News18 Hindi
