Kisan Credit Card

Kisan Credit Card Latest News

In a sign of stress in the agriculture sector, scheduled commercial banks, excluding regional rural banks (RRBs), have seen a sharp increase of 42 per cent in bad loans Kisan Credit Card (KCC) accounts.

About Kisan Credit Card

• Introduction: The Kisan Credit Card (KCC) scheme was introduced in 1998 for issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.
  • The scheme was extended in 2004 to cover farmers’ investment credit needs for allied and non-farm activities.
  • In Budget 2018-19, the government extended the Kisan Credit Card (KCC) facility to fisheries and animal husbandry farmers for meeting working capital needs.
• Implementation: The Kisan Credit Card Scheme is to be implemented by Commercial Banks, RRBs, Small Finance Banks and Cooperatives.
• Objective: The Kisan Credit Card scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for their cultivation and other needs as indicated below:
  • To meet the short term credit requirements for cultivation of crops;
  • Post-harvest expenses;
  • Produce marketing loan;
  • Consumption requirements of farmer household;
  • Working capital for maintenance of farm assets and activities allied to agriculture;
  • Investment credit requirement for agriculture and allied activities.
• Eligibility:
  • Farmers – individual/joint borrowers who are owner cultivators;
  • Tenant farmers, oral lessees & share croppers;
  • Self Help Groups (SHGs) or Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers etc.

Kisan Rin Portal

• The portal helps farmers avail subsidised loans under the Kisan Credit Card (KCC).
• It was developed in collaboration with multiple government departments.
• It offers a comprehensive view of farmer data, loan disbursement specifics, interest subvention claims, and scheme utilisation progress.
• It fosters seamless integration with banks for more focused and efficient agriculture credit.

Kisan Credit Card FAQs

Q1. Who is eligible for Kisan Credit Card UPSC?

Ans. Farmers, including owner cultivators, tenant farmers, and sharecroppers, are eligible for the Kisan Credit Card.

Q2. Which ministry is responsible for Kisan Credit Card?

Ans. The Ministry of Agriculture and Farmers Welfare is responsible for the Kisan Credit Card scheme.

Q3. What is the Kisan Credit Card?

Ans. The Kisan Credit Card is a government-backed credit card providing farmers with easy access to loans for agricultural needs.

Source: IE