Kisan Credit Card scheme: Rs 1.35 lakh crore credit sanctioned achieved

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As a part of the Atmanirbhar Bharat package deal, the federal government had introduced to cowl 2.5 crore farmers below the KCC scheme with a credit score increase of Rs 2 lakh crore by means of a particular saturation drive.

Concentrated efforts by the financial institution and different stakeholders for concessional credit score to the farmers led to the achievement of the credit score restrict of Rs 1.35 lakh crore sanctioned below a particular saturation drive below the Kisan Credit score Card (KCC) scheme.

As a part of the Atmanirbhar Bharat package deal, the federal government had introduced to cowl 2.5 crore farmers below the KCC scheme with a credit score increase of Rs 2 lakh crore by means of a particular saturation drive.

The KCC scheme was launched within the yr 1998 with the targets of offering ample and well timed credit score to the farmers for his or her agricultural operation. The Authorities of India offers curiosity subvention of two% and immediate reimbursement incentive of three% to the farmers, thus making the credit score out there at a really subsidised fee of 4% each year. The federal government has taken main farmer-friendly steps by extending the advantages of KCC with curiosity subvention in 2019 to Animal Husbandry together with Dairy and Fisheries farmers for his or her working capital requirement and elevating the prevailing restrict of collateral-free agriculture mortgage from Rs 1 lakh to Rs 1.6 lakh.

“Whereas making certain handy and cost-effective credit score supply to farmers, the continuing marketing campaign may also be instrumental in driving the agricultural economic system and additional accelerating agricultural manufacturing and allied actions, in addition to enhancing the revenue degree of farmers. This may also go a great distance in fulfilling the target of meals safety for our nation,” the finance ministry mentioned in a press release.

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