Kisan Credit Card Yojana 2023: Since India is a farming country, it makes sense that farmers have a big impact on the country’s growth and development. If the farmers who grow our food are giving everything they have for the good of our country, then it is also the government’s job to help them financially and in other ways. Because of this, the national government and different state governments run different programs for farmers from time to time to help them.
The Central Government has other programs for farmers, such as the Pradhan Mantri Fasal Bima Yojana, PM Kisan Yojana, Maandhan Yojana, and Kisan Credit Card Yojana. We’ve talked about Kisan Credit Card in this post. The Central Government, the Reserve Bank of India, and NABARD started the Kisan Credit Card program in 1998. Farmers can get this type of loan at very low-interest rates by putting their farmland or land in the bank as collateral.
Kisan Credit Card Yojana 2023
In 1998, the Central Government worked with the National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India to start the Pradhan Mantri Kisan Credit Card. The reason the government started this program was so that farmers could get loans from banks for their farming costs at very low-interest rates. Small farmers can get a KCC loan of up to Rs.3 lakh with an interest rate of only 7%. If you pay back your loan in less than a year, you get an extra 3% off.
Why was KCC Scheme 2023 Started?
Before the government started giving loans to farmers for their farms, they had to borrow money from moneylenders in their villages. There, the money lenders charged a lot for their loans. Once the farmer fell into the moneylender’s hands, it would have been very hard for him to get out. Farmers sometimes had to put the things in their homes and their farmland up as collateral. But since the Kisan Credit Card program started, banks can give loans to farmers with very low-interest rates and easy terms.
If you are also a farmer and want to know more about the Kisan Credit Card or the KCC loan, this piece will give you all the information you need. Please read the whole story.
Benefits of Kisan Credit Card (KKC) 2023
Green Card (Kisan Credit Card) loans have helped farmers. Now that this plan is available to farmers, they don’t have to go to anyone else for loans. The Pradhan Mantri Kisan Credit Card plan gives farmers even more benefits. Here’s what you need to know about what’s available:
- Farmers no longer have to worry about not having enough money to do the work needed to till the soil, plant seeds, and gather their crops on time.
- Moneylenders in the village no longer give expensive loans to farmers. This was a big problem for farmers and poor families in our society.
- The farmer can go to the bank closest to him and get a farming loan at any time by putting up papers about his farmland. The terms of the loan are easy. Now you know why they don’t have to wait for days to get a green card.
- Farmers can also get money from green card loans to take care of their equipment and crops. This way, they can take good care of their equipment and crops and avoid losses.
Objectives of Kisan Credit Card (KKC) 2023
The Kisan Credit Card Loan Scheme (Green Card) was started by the government so that farmers wouldn’t have to borrow money from moneylenders. Loans were given at low-interest rates. Through KCC loans, the government has also been able to reach its goal in a big way. The government has made it easy for farmers to get a green card. Here are the details:
- Through the KCC loan from the government, the bank meets the farmers’ economic needs related to farming.
- The main reason for starting this loan program was to get farmers away from moneylenders. Since ancient times, moneylenders had a strong hold on farms. But now that the bank has started the Kisan Credit Card Scheme, it is easy and cheap for them to get loans through the bank.
- With the help of farming loans, farmers can plant seeds, harvest crops, etc., without any problems. Farmers used to have problems with not having enough money, not being able to buy seeds, not being able to get plowing done on time, or not being able to find workers for reaping, etc., but now they can do their crop-related work on time.
- In this way, the government started this program with all of its goals in mind, and it has been very successful. But sometimes, farmers have trouble with bank loans, like when bank employees make unnecessary trips to farms or ask for bribes, etc.
How to Apply Online For KCC?
Kisan Credit Card Application Form: If you are a farmer with farmland, the best way to get a KCC is to go to the bank branch closest to you. But if you still want to apply online, you can visit the PMKISAN page to do so and apply for a KCC. You can also get the application form for it from this page.
How to Know the KCC Loan Limit?
The amount of money farmers can borrow with their Kisan Credit Cards is based on the crops they grow on their land. Here, we’ve talked about the credit limit for a farm loan or a Kisan Credit Card. If you want to know how much credit card you can get, read carefully, because after this you’ll be able to find out how much you can get. One can get a loan.
- The loan limit for a Kisan Credit Card is set by a group at the district level called a DLTC (district-level technical committee) based on how much money is available.
- In each district, a committee has been set up, and the District Magistrate is in charge of it. Officers from NABARD, the bank, and the State Agriculture Department are also on this committee.
- This group puts out a chart called “Scale of Finance” every year that shows how much of a Kisan Credit Card loan can be used for each crop. For example, potatoes cost Rs. 1.5 lakh per hectare, paddy costs Rs. 60,000 per acre, and so on.
- Based on this number, the bank decides how much you can borrow with your Kisan Credit Card.
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