The Indian government has introduced various schemes to support farmers, including the Pashu Kisan Credit Card Scheme.
This initiative aims to assist rural farmers engaged in livestock rearing by providing them with financial aid. Through this scheme, farmers have the opportunity to obtain loans, enabling them to purchase animals such as cows, buffaloes, chickens, and goats.
What documents are required to take a loan?
The government has introduced a scheme to support farmers engaged in animal husbandry by providing them with loans at a highly favourable interest rate. Both online and offline application methods are available for farmers interested in availing the scheme.
For offline applications, farmers can obtain the necessary form from their nearest bank, duly fill it out, and submit it along with the required documents.
These documents include an Animal Health Certificate, details of any existing loan on insured animals, loan requirements for purchasing animals, bank credit score or loan history, the applicant's Aadhaar Card, PAN Card, Voter ID Card, mobile number, and a passport-sized photograph.
One of the major benefits of this scheme is the incredibly low-interest rate of only 4% on the loan. In contrast, loans for animal husbandry from private banks may charge an interest rate as high as 7%.
The loan amount varies depending on the type of animal being raised. For instance, a loan of up to 40,000 can be obtained for cows, while those seeking to fulfill larger dreams can access a loan of up to 60,000. Additionally, farmers can secure loans of over 4,000 for sheep and goats, with the exact amount subject to specific requirements.
This government initiative aims to alleviate the financial burden on farmers and promote animal husbandry as a viable and sustainable means of livelihood. By offering attractive interest rates and tailored loan amounts, the scheme seeks to empower farmers to invest in their animal husbandry ventures and ultimately enhance their agricultural productivity and income.
