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Mahesh

25/03/22 07:10 AM IST

Kisan Credit Card Scheme

In News 
  • A meeting of the Parliamentary Consultative Committee on Agriculture and Farmers' Welfare was held recently.
  • The Committee discussed various aspects of the Kisan Credit Card Scheme for improvement and better implementation.
About the Scheme 
  • Kisan Credit Card was introduced in 1998 to provide short term loans to farmers to purchase agriculture inputs such as seeds, fertilizers, pesticides etc.
  • Presently, KCC loans are available to farmers engaged in crop husbandry, Animal Husbandry and other allied activities for both the short term and long term.
  • The maximum limit for a short term agriculture loan is up to 1 year and for a long term loan normally 5 years. Banks at their discretion may extend the tenure.
  • The government of India is implementing an Interest Subvention Scheme for short term crop loans through KCC, under which, short term loans up to Rs. 3 lakhs are given to the farmers at concessional rate of 7% and additional 3% Prompt Repayment Incentive (PRI) makes the effective rate of interest at 4%.
Source- PIB 

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