A Kisan Credit Card (KCC) is a special type of credit card that is specifically designed for farmers in India. It is issued by various banks in collaboration with the National Bank for Agriculture and Rural Development (NABARD) to provide farmers with easy access to credit for their agricultural needs.
The Kisan Credit Card scheme was introduced in 1998 with the aim of providing timely and adequate credit to farmers in a hassle-free manner. The card can be used for various agricultural purposes such as crop production, post-harvest expenses, purchase of farm equipment, and other agricultural activities.
One of the main benefits of the Kisan Credit Card is that it provides farmers with access to credit at a lower interest rate than traditional loans. Farmers can also avail of a flexible repayment schedule, which is based on the crop cycle and the farmer’s income.
To apply for a Kisan Credit Card, farmers need to have a valid land record and a farming income. The card is issued based on the farmer’s creditworthiness and repayment capacity. Once approved, farmers can use the card to withdraw cash from ATMs, make purchases, and pay for agricultural expenses.
Overall, the Kisan Credit Card has been a great help to farmers in India by providing them with easy access to credit for their agricultural needs. It has helped in increasing agricultural productivity and empowering farmers to become self-reliant. If you are a farmer in India, consider applying for a Kisan Credit Card to avail of its numerous benefits and support for your agricultural activities.