The Indian government is on a mission to double the income of farmers, and a significant step in this direction is the Kisan Credit Card Scheme. In this article, we will provide you with comprehensive information about the Kisan Credit Card Scheme, including its objectives, features, eligibility, necessary documents, application process, and more. By the end of this article, you will have a complete understanding of this scheme that aims to empower farmers across the country.
The Kisan Credit Card Scheme offers farmers in India access to a credit card with a loan limit of up to Rs 1.6 lakh. This financial support enables farmers to invest in their agricultural activities, enhance crop care, and even insure their crops. Recently, the scheme has been extended to include cattle rearers and fishermen. To obtain a credit card through the Kisan Credit Card Yojana, follow the application procedure outlined on the official website. The scheme offers loans to farmers at a minimal interest rate of 4%, and no collateral is required.
Participating Banks in the Kisan Credit Card Scheme
Almost all major banks in India provide the Kisan Credit Card facility. Farmers can inquire about this facility at their nearest bank branch. Some of the prominent banks that offer the Kisan Credit Card include:
- HDFC Bank
- Bank of India
- Axis Bank
- Punjab National Bank
- State Bank of India
- ICICI Bank
- Bank of Baroda
Under this scheme, beneficiary farmers receive a credit card or passbook containing essential information such as their name, address, landholding details, borrowing limit, validity, and more. Farmers are required to affix a passport-sized photograph in their passbook.
New Interest Rates for Kisan Credit Card Yojana
The Kisan Credit Card Scheme was initiated in 1998, and in response to the COVID-19 pandemic, the government announced new interest rates for Kisan Credit Cards. Under the special campaign, Prime Minister Narendra Modi distributed Kisan Credit Cards to over 25 lakh beneficiaries in Chitrakoot district, Uttar Pradesh. The scheme offers loans with a 7% annual interest rate. It also provides agricultural insurance for crops and areas and offers interest at the savings bank rate on the remaining amount.
Farmers who repay their loans within one year receive a 3% interest rate rebate and a 2% subsidy, totaling a 5% discount. In this scenario, farmers only pay 2% interest on loans up to Rs 3,00,000. To apply for the Kisan Credit Card Scheme, visit the official website and complete the online application process.
Kisan Credit Card Scheme in Uttar Pradesh – “Lakshya” Campaign
Uttar Pradesh is running the “Lakshya” campaign to connect farmers with Kisan Credit Cards until October 10. The campaign aims to provide loans to 100,000 farmers for fisheries. The Fisheries Department of Uttar Pradesh intends to issue Kisan Credit Cards in all districts of the state, with a target of 100,000 credit cards statewide.
Features of Kisan Credit Card
The Kisan Credit Card Scheme extends its benefits to PM Kisan Samman Nidhi Yojana beneficiaries, provided they submit the necessary forms to their banks. The government also issues Kisan credit cards under the Self-reliant India scheme, simplifying the loan application process for farmers. Kisan Credit Cards are valid for five years and offer loans of up to Rs 3,00,000 at a 9% interest rate. The government provides a 2% interest subsidy, reducing the effective interest rate to 7%. Farmers who repay their loans promptly receive an additional 3% discount, resulting in a mere 4% interest rate.
Benefits of Kisan Credit Card Scheme 2023
- All farmers in India are eligible to benefit from this scheme.
- The scheme extends its benefits to all farmers associated with the Samman Nidhi Scheme.
- Farmers can access loans of up to Rs 1,60,000 through the Kisan Credit Card provided by the Central Government.
- This financial support allows farmers to improve their agricultural practices.
- The scheme aims to benefit 14 crore farmers across the country and reduce their interest burden.
- Kisan Credit Cards can be obtained from any bank.
- Fish farmers and various farming groups can also apply for Kisan Credit Cards.
Eligibility and Required Documents for Kisan Credit Card Scheme 2023
To be eligible for the Kisan Credit Card Scheme:
- Farmers must own cultivable land or be engaged in agricultural production.
- Applicants must be Indian residents.
- Required documents include the applicant’s Aadhar card, land documents, PAN card, mobile number, passport-sized photos, and proof of identity.
Application Process
To apply for a Kisan Credit Card offline, visit your nearest bank branch with all necessary documents. Obtain the KCC application form from a bank officer, complete it with the required information, attach your documents, and submit it to the bank. After verification, you will receive your Kisan Credit Card within days.
For online applications, visit the official PM Kisan Samman Nidhi Yojana website (https://pmkisan.gov.in/). Download the KCC application form, fill it out, attach the required documents, and submit it to your bank. Your application will be verified, and Kisan Credit Cards will be issued to approved applicants within 15 days.
Increasing the Credit Limit or Reactivating a Closed Card
To increase the credit limit or reactivate a closed Kisan Credit Card, follow these steps:
- Visit the official PM Kisan website https://pmkisan.gov.in/.
- Navigate to the “Farmer’s Corner” and click on the KCC Form.
- Download and print the form.
- Fill out the form, attach necessary documents, and submit it to the nearest bank.
- Your application will be processed, and the increased credit limit or reactivated card will be issued.
Contact Information
If you encounter any issues or have questions related to the Kisan Credit Card Scheme, you can contact the helpline at 011-24300606. This article has provided comprehensive information about the scheme, but if you need further assistance, don’t hesitate to reach out to the helpline.
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Kisan Credit Card Scheme FAQs
What is the Kisan Credit Card Scheme, and why is it significant for Indian farmers?
The Kisan Credit Card Scheme is a government initiative aimed at providing financial support to farmers in India. It offers them a credit card with a loan limit of up to Rs 1.6 lakh, helping farmers invest in agriculture, crop care, and insurance.
Who can apply for a Kisan Credit Card, and what are the eligibility criteria?
Indian farmers engaged in agricultural activities and owning cultivable land are eligible to apply for a Kisan Credit Card. Applicants must be Indian residents.
Which documents are required to apply for a Kisan Credit Card?
To apply for a Kisan Credit Card, you need the following documents: Aadhar card, land ownership documents, PAN card, mobile number, passport-sized photos, and proof of identity.
What is the interest rate offered under the Kisan Credit Card Scheme?
The Kisan Credit Card Scheme provides loans to farmers at a minimal interest rate of 4%. However, farmers who repay their loans within one year can enjoy a reduced interest rate.
Which banks participate in the Kisan Credit Card Scheme?
Most major banks in India offer the Kisan Credit Card facility. Some of the prominent banks include HDFC Bank, Bank of India, Axis Bank, Punjab National Bank, State Bank of India, ICICI Bank, and Bank of Baroda.
What benefits does the Kisan Credit Card Scheme offer to farmers?
The scheme offers numerous benefits, including access to affordable loans, extended coverage to all farmers under the Samman Nidhi Scheme, and the ability to improve agricultural practices.
How can farmers apply for a Kisan Credit Card?
Farmers can apply for a Kisan Credit Card both offline and online. For offline applications, visit the nearest bank branch with required documents. For online applications, visit the official PM Kisan Samman Nidhi Yojana website.
Is there a specific campaign related to the Kisan Credit Card Scheme in Uttar Pradesh?
How can farmers increase their credit limit or reactivate a closed Kisan Credit Card?
To increase the credit limit or reactivate a closed Kisan Credit Card, farmers can follow the provided instructions, which involve visiting the official PM Kisan website and submitting necessary documents to their nearest bank.
Where can farmers find contact information for assistance with the Kisan Credit Card Scheme?
Farmers can contact the helpline at 011-24300606 for assistance and support related to the Kisan Credit Card Scheme.
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