The Central Government offers a wide range of facilities to farmers. The government is currently developing a number of new programs to help farmers become financially stable. The government’s PM Kisan Yojana benefits millions of farmers across the nation. The government provides 6000 rupees in financial aid to more than 10 billion farmers annually. Currently, Nirmala Sitharaman, the finance minister, has also provided banks with instructions for enhancing the financial situation of farmers.
The Minister of Finance has urged
Nirmala Sitharaman, the finance minister, has pleaded with the banks to provide farmers with simple credit options. Along with this, those folks can take advantage of all the government’s resources, including the Kisan Credit Card, to boost their income. The agriculture industry can also advance in addition to this.
PM Kisan – The income of farmers will rise.
A few days ago, the Finance Minister had a call with the CEOs of the Public Sector Banks in which he urged the farmers to proceed and informed them of all the bank’s resources.
How to apply for a loan from the PM Kisan Credit Card
You can apply for a loan from the PM Kisan Credit Card by visiting your local bank, filling out the application form, and submitting it to the loan officer.
Farmers are offered a loan of Rs 3 lakh for up to 5 years, but they are only allowed to take it out once every 5 years.
Benefits from the exemption
Through KCC, farmers may obtain a short-term loan of up to Rs 3 lakh over five years. 9 percent interest is charged on loans to farmers. The government then provides a 2 percent subsidy. Additionally, the farmer receives a further two percent rebate for timely loan repayment. In this approach, the loan’s interest rate will be 4%. KCC has a five-year expiration date. You may borrow up to Rs. 1 lakh, 60,000, with no security.
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