In this article we will take a closer look at the Kisan Credit Card Scheme introduced recently by the government of India and how it works.
Agriculture is the primary economic activity of our country. We have been an agrarian economy for generations and even today 75% of the active workforce is engaged in agriculture in one form or another. But modern day agriculture is not the same as it used to be. India is not just self-sufficient in terms of agricultural produce but also a global exporter of grain. In order to meet this kind of demand agriculture needs to adopt modern techniques and mechanisation. This makes agriculture an investment heavy vocation. And as with any investment heavy business, working capital credit is very crucial to even begin operations. Given that most farmers are rural and do not have access to institutional banking and credit facilities, the government has stepped in to bridge the gap and make credit easily available to farmers through its Kisan Credit Card Scheme. In this article, we shall discuss the various aspects and features of the Kisan credit card scheme.
Kisan Credit Card Scheme was started to provide loans to the farmers at low interest rates. But still about 42 percent farmers have not been able to join this scheme and remain connected to moneylenders for their farming. Recently, the Central Government has tried to link all those farmers who are taking advantage of the Pradhan Mantri Kisan Samman Nidhi with the Kisan Credit Card Yojana. Now the Kisan Credit Card will also be linked to Animal Husbandry and Fisherman through which guarantee free loans will be provided to the farmers.
The Kisan Credit Card Scheme – Objective And Features
Under the Kisan Credit Card Scheme, a credit card will be provided to the farmers of the country. Through which they will be given a loan of 1 lakh 60 thousand. Through this loan, the farmers of the country will be able to take better care of their agriculture. Along with this, farmers will also be able to get their crops insured. Recently, animal rearers and fishermen have also been included under the Kisan Credit Card Scheme. If you also want to get a credit card under Kisan Credit Card Yojana , then you have to follow our given process by visiting the official website. Under the Kisan Credit Card Scheme, the loan will be provided to the farmers at 4% interest rate without any guarantee.
Let us take a look at some of the features of this scheme:
- The benefits of Kisan Credit Card Scheme are also provided to the beneficiaries of PM Kisan Samman Nidhi Yojana.
- To get this benefit they have to submit the form in the bank.
- Kisan credit cards are also being made by the government under the Atmanirbhar Bharat Yojana.
- Through these credit cards, loans are made available to the farmers easily and at low interest.
- All those farmers who have made Kisan Credit Card and for some reason their card has been closed, then it is very easy to start it again.
- The validity of Kisan Credit Card is 5 years.
- Through the KCC form available on the official website of PM Kisan Samman Nidhi Yojana, you can increase the limit of your card and restart the closed card.
- Through Kisan Credit Card, beneficiaries can get loans up to ₹300000 at 9% interest.
- A subsidy of 2% is provided by the government on this interest. That is, farmers will be provided loans at only 7% interest.
- If the farmer repays the loan in time, then he is given an additional rebate of 3%. That is, in this situation the farmer will have to pay only 4% interest.
Eligibility For The Scheme
The following types of agricultural vocations are eligible for the Kisan Credit Card scheme:
- Inland Fisheries and Aquaculture Fishermen
- Fish Farmer (Individual & Group / Partnership / Crop / Tenant Farmer)
- Self help group
- Joint liability group
- Women’s group
Documents Of Kisan Credit Card Scheme
All those farmers eligible under this scheme need to produce the following documents at the time
- Aadhaar Card of the applicant
- Farmer should be Indian resident
- copy of land
- PAN card
- mobile number
- passport size photo
How To Apply Offline In The Kisan Credit Card Scheme ?
Under this scheme, the farmers of the country who want to apply for the credit card under this scheme will have to go to your nearest bank branch with all your documents. By going to the bank, you will have to take the application form of Kisan Credit Card Yojana from the bank officer there. After taking the application form, you will have to fill all the information asked in the form. After filling all the information, you have to attach all your documents with the application form and submit it to the bank official. After verifying your application, you will be given the Kisan Credit Card within a few days. The banks that are associated with this scheme and can issue the credit card are listed below:
- State Bank of India
- Punjab National Bank
- Bank of Baroda
- ICICI Bank
- Allahabad Bank
- Andhra Bank
- Sarva Haryana Gramin Bank
- Canara Bank
- Odisha Gramya Bank
- Bank of Maharashtra
- HDFC Bank
- Axis Bank
How To Apply For A Kisan Credit Card Online?
Through Kisan Credit Card Yojana, a loan of Rs 3 lakh is given for the crop. Farmers have to pay an interest of 7% for this loan. The farmers of the country who want to get benefits under this scheme will have to apply for a credit card. Today we will tell you how you can apply for getting a credit card under this scheme.
- First of all, you have to go to the official website of PM Kisan Samman Nidhi Yojana. After visiting the official website, the home page will open in front of you.
- On this home page you will see the option of Download KCC Form . You have to click on this option. After clicking on the option, KCC Application Form PDF will open in front of you, from here you can download the application.
- After downloading the application form, you have to fill all the information asked in the form. After filling all the information, you have to attach all the necessary documents with the application form.
- After this, you will have to submit your application form by going to the bank where your account is open.
After verifying the data provided by the farmer, the application will be accepted and the application will go to the login of the branch of the bank account where the amount of Kisan Samman Nidhi Yojana is received. All those farmers whose applications will be approved will be provided a Kisan Credit Card within 15 days. To make this scheme transparent, the monitoring of the application software will be given to the Deputy Director of Agriculture, District Magistrate and Leading District Manager.
Process To Apply For The Scheme Through The Bank
- First of all you have to go to the official website of the bank.
- Now the home page will open in front of you.
- On the home page, you have to click on the option of Kisan Credit Card Form.
- After that you have to click on the option of Apply Now.
- Now the application form will open in front of you.
- You have to enter all the important information asked in the application form like your name, mobile number, email id etc.
- After this you have to upload all the important documents.
- Now you have to click on the submit option.
- In this way you will be able to apply under the Kisan Credit Card Scheme.
Conclusion
As mentioned before, there are still many farmers who have not availed the benefits of this scheme due to lack of awareness. So it is important to spread the word and encourage farmers to take advantage of this scheme so that they are not left wanting for any measure in the process of cultivation and maximising their yield. This in turn will help the economy overall which will consequently lead to the development of the country. It is rightly said that farmers are the backbone and must be helped in any way possible.
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