Increase farmers’ income and lower interest rates Loan To achieve this, the Modi government on February 29 last yearKCC Saturation Drive) (Kisan Credit Card Special Program). This feature is now one year old. On this occasion, Finance Minister Nirmala Sitharaman has released government data.
Tweet from the Finance Minister’s Office
Finance Minister Nirmala Sitharaman said on Twitter that KCC Saturation Drive has issued credit cards to more than 1.82 crore farmers in the last one year. We have given a total credit limit of Rs 1.73 crore to farmers.
KCC Saturation Drive started with the aim of covering all the farmers eligible for KCC has completed one year. During this time, more than 1.82 crore KCCs were issued and a credit limit of ₹ 1.73 lakh crore was approved.#EasyKCC4Farmers pic.twitter.com/g8VNsdtfpO
– NSitharamanOffice (@nsitharamanoffc) February 28, 2021
It’s easier to create a credit card now
Creating a Kisan credit card is now easier than ever. According to government information, the applicant farmer will now get the card after more than 15 days. The government claims that the process of making credit cards has been made so simple that farmers are no longer facing any difficulty. The simple process behind the increase in the number of credit card farmers is also considered to be a big reason. In addition to the simple process, farmers also get very cheap loans through credit cards.
Benefits of Kisan Credit Card
Kisan Credit Card has been linked to Pradhan Mantri Kisan Sanman Nidhi Yojana (PM Kisan Sanman Nidhi Yojana). Which benefits the farmers already registered under Kisan Sanman Nidhi Yojana. Under this, interest is charged at the rate of 7 per cent per annum on the loan taken, if the farmer repays the loan on time, he also gets a discount of 3 per cent. It is also understood that if a farmer takes a loan through a credit card, he will have to pay Rs 7,000 for a year on Rs 1 lakh. If the farmer repays the loan on time, he gets a rebate of Rs 3,000. Apart from this, pastoralists and fishermen are also getting the facility of farmer credit. Through this, service charge will not be levied on loans up to Rs 3 lakh and nothing will have to be mortgaged for loans up to Rs 1.6 lakh.