The Kisan Credit Card (KCC) was introduced by the Indian government in 1998 to provide financial assistance to farmers across the country. The card serves as a single-window solution to all the credit-related requirements of the farming community. This scheme aims to support the agriculture sector by providing short-term credit at a subsidized interest rate.
In order to avail the benefits of the KCC, the farmer needs to approach their nearest bank or financial institution with appropriate documents to get the card issued. These documents include an ID proof, address proof, land ownership documents, crop cultivation details, and other relevant details.
Most banks issue the KCC within 10-15 days of receiving the application, provided all the documents are in order. The card comes with a pre-approved limit, and the farmer can withdraw funds as per their requirement and convenience.
One of the unique features of the KCC is that it offers credit not only for crop cultivation activities but also for various allied activities such as dairy farming, horticulture, poultry farming, and fisheries. This scheme also provides coverage for post-harvest activities such as storage, transportation, and handling of produce.
The KCC scheme has various benefits for farmers, including easy credit availability, quick disbursal of funds, and lower interest rates compared to other modes of credit. Additionally, the card also provides insurance coverage to the farmer and their family members, which provides protection against unforeseen events such as death or disability.
Overall, the Kisan Credit Card is an important initiative by the Indian government to boost the agriculture sector. It provides farmers with financial support and helps them to meet their credit requirements in an efficient and timely manner. The scheme has been a great success since its inception, and it continues to play a crucial role in supporting the agriculture sector in India.