Kisan Credit Card (KCC) /Farmers Credit Card

Kisan Credit Cards  (KCC)

Kisan Credit Cards were started by the Government of India, RBI (Reserve Bank of India), and NABARD (National Bank for Agricultural and Rural Development) in 1998-99 to help farmers access timely and adequate credit.

The Kisan Credit Care allows farmers to have cash credit facilities without going through the credit screening processes repeatedly. Repayment can be rescheduled if there is a bad crop season, and extensions are offered for up to 4 years. The card is valid for 3 years and subject to annual renewals. Banks in India that lend for agricultural purposes usually offer the KCC. Withdrawals are made using slips, cards, and a passbook.

Extent of Exposure

As per scale of finance specific to the crop and KCC norms. Int rate is around 7% (SI).

Tenure

The card would be valid for 5 years, of which crop loan and working capital components has to be renewed annually. Kisan Credit Card Scheme: Himachal Pradesh

Details of Kisan Credit Card Scheme

Name of the Scheme:  Kisan Credit Card Scheme  (KCC)

Sponsored by : State Government

Funding Pattern: Rs. 50000/- for Rabi Crops. Rs. 50000/- for Kharif Crops. Ministry/Department State Government PSU Description 1 Maximum Limits Rs. 50000/- for Rabi Crops. Rs. 50000/- for Kharif Crops.

Eligibility:  Individual farmer/ Society.

Purposes :Agriculture.

Repayment period:  Kharif 31 January Rabi 31 July.

Collateral Security Charge on land in case loan is above Rs. 10000/- and two sureties if loan is below Rs. 10000/-. 6 Margin Stipulation As per nature of the loan Beneficiaries Individual,Community, Benefits Benefit Type Loan, Eligibility criteria Individual / Society.

How to Avail?

Approach to the State Headquarters and Branch Manager at District Level Branches Validity of the Scheme Introduced On 31 / 03 / 2006 Valid Up to 31 / 03 / 2012