Finance Minister Mrs Nirmala Sitharaman announced the second instalment of the Rs 20 lakh crore package, making a big announcement for the farmers in this package. In this package, 2.5 crore farmers will be provided credit cards in the coming days. Up to 2 lakh crore rupees will be spent under this package. Apart from farmers engaged in farming, this facility will also be provided to cattle rearers and fishermen. They will also be able to get a loan at a discounted rate, whose interest rate will be very low.
For the farming-related activities, farmers are provided loans at easy and cheap rates through the Kisan Credit Card. Let’s know what is Kisan Credit Card, how it can be made and how it can be used.
What is Kisan Credit Card (KCC)?
In 1998, the Government of India started KCC as a welfare scheme. Through this, farmers easily get loans for farming as per their need. Loans can be taken for the purchase of fertilizers, seeds, pesticides etc. NABARD and the Reserve Bank of India jointly launched this card. KCC currently has 6.92 crore farmers.
A debit card is issued to the farmers, from which they can withdraw money from their account. If there is money left in the account, then they get interest only at the rate of a savings account.
Farmers can take a short term loan through KCC for loans up to Rs 3 lakh in 5 years. An interest of 4% is payable on this loan. Earlier, the farmer had to mortgage his land for loans up to one lakh. This amount has now been increased to Rs 1.60 lakh.
How to apply for a KCC card?
Only those farmers who have opened accounts in PM Kisan Samman Nidhi can take advantage of this scheme. For this, you have to download the Kisan Credit Card form by visiting https://pmkisan.gov.in/.
The option of Download KCC form will appear on the homepage itself. From here you can download the form. In this form, you have to fill your land documents, crop details etc. Keep in mind, you have not got this card made elsewhere. You have to declare that they already have a card from another bank or branch. This form can also be downloaded from www.argicoop.gov.in.
Where can I get KCC?
KCC can be obtained from any Co-operative Bank, Regional Rural Bank (RRB). National Payments Corporation of India (NPCI) is issued to KCC. This card can also be taken from SBI, BOI and IDBI Bank.
To get this type of information, visit yojanasarkar.com.www.Yojanasarkar.com