New Delhi3 hours ago
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There are more than 7.75 crore KCC accounts in the country.
The Union Cabinet led by Prime Minister Narendra Modi has approved the continuing the revised Interest Subsidy Scheme (MISS) for the next financial year 2025-26. The necessary funds have also been fixed for this. This scheme is to give short -term loans to farmers at low interest through Kisan Credit Card (KCC).
According to this…
- Farmers from KCC can take loans up to Rs 3 lakh at 7% interest, in which banks get 1.5% interest subsidy.
- Farmers who pay loans on time, get an encouragement of up to 3%, that is, their interest remains only 4%.
- Interest benefits on loans for animal husbandry or fisheries are applicable up to Rs 2 lakh.
- There is no change in this scheme, that is, old conditions and structures will remain the same. There are more than 7.75 crore KCC accounts in the country.
Special things of agricultural loan:
- The loan through KCC was Rs 4.26 lakh crore in 2014, which increased to Rs 10.05 lakh crore by December 2024.
- The total agricultural loan increased from 7.3 lakh crores in 2013-14 to Rs 25.49 lakh crore in 2023-24.
- The Kisan Loan Portal (KRP), which started in August 2023, is making the loan process more transparent and easy.
Process to make KCC card
1. Check the eligibility: Personal or joint cultivators, whether they are owners or tenant farmers. At the same time, people who do animal husbandry or fisheries can also apply for KCC. Only farmers between 18 to 75 years can make these cards.
2. Required Documents: Aadhaar card, PAN card, voter ID, driving license will be imposed for identity card. At the same time, documents like Aadhaar card, ration card, electricity bill will be imposed for evidence of address. Apart from this, Khatauni, Jamabandi, or Rent Agreement will be required.
3. Select the bank: Any bank involved in the KCC scheme, such as State Bank of India (SBI), Punjab National Bank (PNB), Regional Rural Bank, or Cooperative Banks, issues this card. Select the bank where you already have an account or which is easily available in your area.
4. Fill the application form: Go to your nearest bank bank and ask for KCC application form. The forms of many banks are also available on their website. At the same time, applications for KCC are also accepted through some bank’s online portal.
5. Processing time: Typically, the KCC is released within 15-30 days of submission of the application, provided the documents are completed and no problems are faced. If you are associated with the PM Kisan Yojana, the process may be further intensified.
