Modi government can increase the limit of Kisan Credit Card in the budget. Loans are provided to the farmers on Kisan Credit Card at a very low interest rate. Through the Kisan Credit Card, farmers, livestock and fishermen get many benefits.
Target to distribute agricultural loan of Rs 15 lakh crore- The central government transfers Rs 6,000 annually to 11 crore farmers in their account. The record of the land of these 11 crore farmers and their biometric is with the Central Government. In such a situation, it is very easy to make a Kisan Credit Card for them. The government has set a target of distributing agricultural loans worth a total of Rs 15 lakh crore to the farmers of the country by March 2021. At present, there are only about 8 crore farmers credit card holders in the country.
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>> To get a Kisan Credit Card go to the official site of PM Kisan Yojana (pmkisan.gov.in).
>> After that download the Kisan Credit Card form.
>> You have to fill this form with the documents of your arable land, details of the crop.
>> It has to be informed that you have not made any other Kisan Credit Card from any other bank or branch.
What documents are needed
>> ID proof like – Voter card, PAN card, Passport, Aadhaar card, Driving license. One of these will also become your address proof.
>> KCC can be obtained from any Co-operative Bank, Regional Rural Bank (RRB).
>> This card can also be taken from SBI, BOI and IDBI Bank.
>> National Payments Corporation of India (NPCI) issues RuPay KCC.
Feature of Kisan Credit Card
>> Interest is paid on the loan in the KCC account at the rate of Savings Bank.
>> Free ATM cum Debit Card is provided for KCC card holders.
>> State Bank of India gives a debit / ATM card called State Bank Kisan Card.
>> For loans up to 3 lakh rupees in KCC, interest rebate is given at the rate of 2% per annum.
>> Excess interest at the rate of 3% per annum is available for repaying the loan ahead of time.
>> Crop insurance coverage is available on KCC loans.
>> The amount of loan for the first year is decided on the basis of agricultural cost, post-harvest expenses and land cost.
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Who can take advantage of KCC
Now KCC is not limited to farming only. Animal husbandry and fisheries will also be able to get a loan of up to 2 lakh rupees under this. 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 old, 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.