Over the past ten years, the operational amount under the government’s Kisan Credit Card scheme has more than doubled. This sum was Rs 4.26 lakh crore in March 2014; it is currently Rs 10.05 lakh crore.
Update on the Kisan Credit Card: By December 31, 2024, the amount in the current Kisan Credit Card (KCC) account had surpassed Rs 10 lakh crore, according to the Finance Ministry. 7.72 crore farmers have profited from this. The present KCC was valued at Rs 4.26 lakh crore in March 2014. According to the Finance Ministry, this indicates a notable rise in the quantity of low-interest loans provided to farmers for agricultural and related purposes.
What is Kisan Credit Card?
The Indian government introduced the Kisan Credit Card (KCC). Farmers can obtain quick and affordable loans through KCC, a banking product, to cover their cash needs for goods like seeds, fertilizer, and pesticides, as well as related activities. Its goal is to give farmers timely and sufficient funding to meet their agricultural needs. Since its inception in 1998, this program has grown to be a significant financial tool for farmers.
The purpose of Kisan Credit Card is
to give farmers timely loans to meet their agricultural demands. In addition, this prevents farmers from taking out high-interest loans from moneylenders and other unofficial sources. granting farmers loans so they can buy seeds, fertilizer, agricultural equipment, and other inputs. giving farmers access to crop insurance as well as other insurance options.
Benefits of KCC
Compared to other loan kinds, KCC interest rates are typically substantially lower. Compared to other loans, KCC is the easiest to obtain. This program is specifically designed for landowners who are farmers. Farmers can return the loan after harvesting their crop thanks to KCC’s flexible repayment options. Crop insurance and personal injury insurance are among the insurance options available to KCC holders.
Who can get KCC?
This program is open to all farmers, whether they are sole proprietors or co-owners. Self-help groups (SHGs) or joint liability groups (JLGs), oral lessees, and tenant farmers are also qualified. Farmers who raise animals and fishermen can also benefit from this program.
Depending on the farmers’ requirements and eligibility, the Kisan Credit Card (KCC) has different limits. The Kisan Credit Card’s (KCC) previous maximum of Rs 3 lakh has been raised to Rs 5 lakh. In Budget 2025, Finance Minister Nirmala Sitharaman made this announcement. A farmer’s acreage, crop patterns, and credit history are some of the elements that go into determining the KCC limit. Additionally, banks evaluate the farmer’s income and ability to repay.
Since KCC is a form of revolving credit, farmers are able to borrow money and pay it back as needed. KCC is valid for five years. Following an annual review, it may be renewed. KCC members receive a RuPay debit card, which they can use to make purchases and withdraw cash from ATMs.
Read More: –Intermediate Admit Card: Website Down? Get It Easily on WhatsApp!
|
|
  Facebook Page |
         Click Here |
|  Twitter       |
          Click Here |
| Â Instagram |
         Click Here |
