Priyanka Poojary
Kisan credit card is a central government initiative started in 1998 for financially supporting the farmers across the country. Under this initiative farmers with land holdings are eligible for availing bank loans at lower interest rates. These affordable loans are collateral free. Along with agricultural farmers, farmers from fisheries and animal husbandry sector are also covered under this initiative. Maximum amount of loan to be sanctioned under this scheme is Rs. 3 lakhs. Repayment of loan will depend on the crop cultivation of the respective farmer. This initiative tends to relieve farmers from the burden of debt from private banks and money lenders. Kisan credit card is now linked with central government’s PM-KISAN Yojana.
Overview:
| Initiative | Kisan Credit Card |
| Initiative Under | Central Government |
| Main Beneficiaries | Farmers with landholdings |
| Benefit | Financial assistance through short term low interest bank loans |
| Major Objective | To provide assistance to the farmers and their families in the country thereby ensuring their welfare and social security |
Objectives and Benefits:
- The main objective of the initiative is to support the farmers in the country.
- This scheme covers all the agricultural, fisheries and animal husbandry farmers with land holdings.
- Under this scheme a financial assistance by the way of bank credit.
- Beneficiaries will get the benefit directly in their bank account.
- It aims at ensuring welfare of all the farmers and their families in the state.
- It will turn out to be a boon for the beneficiaries in difficult and testing times.
Eligibility:
- Applicant farmer must be a citizen of India.
- He must be in the age group of 18-65 years.
- All Farmers owning cultivable land holdings are eligible.
- Farmers engaged in farming or related activities, Tenant farmers and shared croppers are eligible.
Documents Required:
- Aadhaar Card
- Voter ID
- PAN Card
- Ration card
- Land Documents
- Passport sized Photo
- Bank Details
Application Process:
- Visit the official website @pmkisan.gov.in
- Download KCC form available on the home page
- Fill it with required details like applicant name, village name, occupation details, amount of loan required, etc.
- Visit the nearest branch and submit the form with required documents.
- Applicant can also visit the bank website and fill the form online with required details.
- Upload the documents and submit it.
- On verification the loan amount will be sanctioned and the amount will be transferred to beneficiary bank account.
Initiative Details:
- Kisan Credit card is an initiative started by central government for supporting the farmers financially.
- Kisan Credit Card enables farmers for availing low interest bank loans.
- Maximum amount of loans sanctioned is Rs. 3 lakhs.
- Rate of interest on such loans is 9% with 2% government subsidy thus the farmers have to pay as 7% of interest.
- Repayment of these loans is flexible based on the crop cultivation of the farmers who avail loans.
- These loans can be used for farming activities and requirements.
- Farmers can apply for fresh loan or enhancement of existing limit.
- It will tend to ensure their welfare and social security of the farmers in the country.
