To give big relief to the farmers, the Modi government has accelerated the work of making Kisan Credit Card (KCC). Giving information about the economic package on Thursday, Union Finance Minister Nirmala Sitharaman said that the government has issued KCC to 25 lakh farmers in the last two months alone.

Sources in the Ministry of Agriculture say that with this, the number of KCC holder farmers in the country has gone up to 1.25 billion. Before getting entangled in all these figures, let us understand what is the Kisan Credit Card (KCC) and how it benefits the farmers.

KCC is a welfare scheme launched for farmers. It was started in 1998 by the Government of India. Through KCC, farmers get easy loan for farming as per the requirement.

With this, he can buy agricultural related goods like manure, seeds, pesticides etc. Nabard and the Reserve Bank of India jointly started the scheme. It can be obtained from any co-operative bank, regional rural or any public sector bank.

According to the Ministry of Agriculture and Farmers Welfare, (excluding today's announcement of the Finance Minister), there are currently 6.92 crore KCC holders as against 14.5 crore operational land holdings. The farmers are issued an ATM co-debit card (State Bank Kisan Debit Card) so that they can withdraw money easily. KCC is a diversified account format. In case there is any balance remaining in this account, the same amount of interest is earned on that amount as a savings account.


Loans to farmers at easy rates:-

The KCC scheme was started by the government with the objective of reducing the dependence of farmers on mahajans for the purchase of equipment related to farming. Under this, loans are given to the farmer at easy rates. Under KCC, farmers can take a short-term loan of up to three lakhs in five years.

Earlier, under KCC, farmers had to mortgage their land with banks for taking loans of more than one lakh. But now it has been increased to Rs 1.60 lakh. A KCC farmer can use the card for harvesting equipment or for other purposes.

Once KCC is created, it is valid for five years. Recently, the government started a campaign to bring more and more farmers under the KCC by linking it with the PM Kisan Samman Nidhi Scheme. For which the application has been simplified and KCC was ordered to be issued within 14 days from the date of receipt of the form.

How to get agricultural loan at the rate of four percent:-

Although the interest rate for farming is nine percent, but the government gives a subsidy of two percent in it. In this way it falls to seven percent. If the farmer returns the loan on time, he gets a further rebate of three per cent.

In this way, its rate for farmers is only four percent. Farmers with animal husbandry and fisheries will also get a loan of up to two lakh rupees through KCC at an interest rate of four percent per farmer.
You can get Kisan Credit Card from these banks
NPCI i.e. National Payments Corporation of India issues RuPay Kisan Credit Card. Apart from this, NABARD provides easy term loans to farmers. Farmers can also get KCC from SBI, Bank of India and IDBI Bank.