Kisan Credit Card Loan Scheme

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Kisan Credit Card Loan Scheme

Government of India scheme for providing short-term formal credit to farmers in agriculture, fisheries, and animal husbandry sectors.

Overview

The Kisan Credit Card scheme is a Government of India scheme launched in 1998 with the aim of providing short-term formal credit to farmers in the agriculture, fisheries and animal husbandry sector. The PM Kisan Credit Cards have now been linked to the Pradhan Mantri Kisan Samman Nidhi Yojana.

Quantum of Loan

Farmers can seek a loan from KCC for agriculture activity for up to Rs.3 lakh at 7% interest rate with 3% incentive for prompt repayment. The validity period is 5 years.

KCC for animal husbandry and fisheries activity for up to Rs.2 lakh at 7% interest rate with 3% incentive for prompt repayment. The validity period is 5 years.

With the help of this scheme, farmers can avail loan up to Rs.1.60 lakh without any collateral and repay their loans depending on the harvesting period of their crop for which the loan was given.

Eligibility Criteria

Any individual farmer who is an owner-cultivator.

People who belong to a group and are joint borrowers. The group has to be owner-cultivators.

Sharecroppers, tenant farmers, or an oral lessee are eligible for the KCC.

Self-help groups (SHG) or joint liability groups (JLG) of sharecroppers, farmers, tenant farmers, etc.

Farmers involved in the production of crop or allied activities such as animal husbandry along with non-farm activities such as fishermen.

Inland Fisheries and Aquaculture: Fish farmers, fishers, SHGs, JLGs, and women groups. As a beneficiary, you must own or lease any activity related to fisheries. This includes owning or leasing a pond, an open water body, a tank, or a hatchery among others.

Poultry: Individual farmers or joint borrowers, SHGs, JLGs, and tenant farmers of sheep, rabbits, goats, pigs, birds, poultry, and have sheds they have owned, rented, or leased.

Dairy: Farmers, dairy farmers, SHGs, JLGs, and tenant farmers who own, lease, or rent sheds.

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