Kisan Credit Card: The government has increased the Agri loan target to Rs 16.5 lakh crore for the financial year 2021-22. This is 15 lakh crores for 2020-21.
The government is taking steps to provide Kisan Credit Card to a large number of livestock and dairy farmers. Animal Husbandry Secretary Atul Chaturvedi said that banks are hesitating to issue KCC to livestock and dairy farmers. He said that he has spoken to his counterpart in the Finance Ministry on this issue, so that the target of issuing KCC by banks to farmers of this category can be set.
The government has increased the Agri loan target to Rs 16.5 lakh crore for the financial year 2021-22. This is 15 lakh crores for 2020-21. KCC is released to farmers who grow crops. But in 2018, it has also been expanded to fisheries, cattle ranchers and dairy farmers.
Chaturvedi said, of course, it takes time for banks to adjust to the new area of credit expansion. They are not used to it. We are trying to overcome his initial hesitation. He said that the department is coordinating with banks to remove the hesitation in issuing KCC to livestock farmers and dairy farmers.
The cheapest loan available on KCC
For agriculture and farming, the interest rate for loans up to 3 lakh rupees taken on kisan credit card is 9 percent. But the government gives a subsidy of 2% in it. In this way it falls to 7 per cent. But on return on time, you get 3% more discount. In this way, its rate is only 4 percent for honest farmers.
Who can take Kisan Credit Card
Any person connected with farming, fisheries and animal husbandry, even if he cultivates someone else’s land, can take advantage of it. The minimum age should be 18 years and maximum 75 years. If the farmer is over 60 years of age, then a co-applicant will also be employed. Whose age is less than 60. After filling the farmer’s form, the bank employee will see if you are eligible for it.
How to make KCC
The government has already made it easier to take loans on Kisan Credit Card. All the fees charged for making KCC from banks have been abolished. The PM has been linked to the Kisan Nidhi. Applicant’s name and farmers will have to fill the name of the bank account given for PM Kisan Yojana. All other necessary information (KYC) will be matched by the bank PM account of the farmer himself.
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