Kisan Credit Card (KCC) is a specially designed credit card scheme for farmers in India. Launched by the Government of India in August 1998, the scheme aims to provide farmers with timely and adequate credit support to meet their agricultural needs. The KCC scheme is implemented by various banks and financial institutions across the country.
One of the key features of the Kisan Credit Card is that it offers farmers easy access to credit at affordable interest rates. This helps farmers to meet their agricultural expenses such as the purchase of seeds, fertilizers, pesticides, and other inputs. The KCC can also be used for meeting expenses related to post-harvest activities, farm maintenance, and other allied agricultural activities.
The Kisan Credit Card is a revolving credit facility, meaning that farmers can borrow money, repay it, and borrow again within the sanctioned credit limit without the need for fresh approval each time. This provides farmers with the flexibility to manage their finances more effectively.
Another important benefit of the Kisan Credit Card is that it provides insurance coverage to farmers against unforeseen events such as natural calamities, accidents, or death. This insurance coverage provides a safety net for farmers and their families in times of crisis.
The Kisan Credit Card has proven to be a game-changer for small and marginal farmers in India. It has helped in improving their access to credit, reducing their dependency on informal sources of credit, and empowering them to invest in their farms and increase their agricultural productivity.
To avail of a Kisan Credit Card, farmers need to approach their nearest bank branch or financial institution that offers the scheme. They need to submit certain documents such as land documents, identity proof, address proof, and other relevant documents as per the bank’s requirements.
In conclusion, the Kisan Credit Card is a valuable financial tool for farmers in India. It provides them with the much-needed credit support to meet their agricultural needs and improve their livelihoods. The scheme has played a significant role in empowering farmers and ensuring their financial inclusion in the formal banking system.