The Kisan Credit Card (KCC) is a credit scheme designed especially for farmers to help them meet their financial needs for agricultural purposes. Introduced in 1998 by the Reserve Bank of India (RBI) and the National Bank for Agriculture and Rural Development (NABARD), the KCC aims to make credit easily available to farmers for the purchase of farming equipment, seeds, and other agricultural inputs.
The KCC provides farmers with access to affordable credit that allows them to purchase farming inputs, carry out their farming activities, and meet other expenses related to their farming needs. The scheme provides flexible repayment options and allows farmers to repay the loan in easy installments with minimum interest rates.
The KCC is available to farmers who own up to five acres of land and to tenants or sharecroppers who have been farming for at least a year. Farmers can apply for the KCC at any bank, cooperative society, or regional rural bank. The application process is simple, and farmers are required to provide their identification proof, proof of land ownership or tenancy, and any other documents that are required by the particular bank or financial institution.
The KCC offers two types of credit limits, namely, a crop production credit limit and a livestock credit limit. The crop production credit limit caters to the financial needs of farmers who grow crops, while the livestock credit limit is meant for those who engage in livestock rearing.
The KCC is a beneficial scheme for farmers in India who need access to credit for agricultural purposes. It provides them with affordable credit options, helps them meet their financial needs, and encourages them to invest in their farms for improved productivity.