Kisan Credit Card: Government is now coming up with a new portal to provide subsidized loans to farmers easily. With its help, banks will deliver loans to farmers’ homes. This loan will be provided at KCC. Kisan Loan Portal will be launched today.
Finance Minister Nirmala Sitharaman and Agriculture Minister Narendra Singh Tomar will launch the ‘Kisan Loan Portal’ on September 19 at 2.30 pm today to help farmers avail subsidized loans under Kisan Credit Card (KCC). A manual for the door-to-door CC campaign and the Weather Information Network Data System (WINDS) portal will also be launched at a program to be held at Pusa Complex.
What facilities will be available on this portal?
According to the Ministry of Agriculture, the Kisan Loan digital platform provides complete information and approval of farmers’ data, loan disbursement, interest reduction claims and utilization of the scheme. Banks will also be registered for agricultural loans.
The campaign will be conducted door to door.
The government will conduct door-to-door campaigns to further extend the benefits of KCC. Under this, the beneficiary farmers and other farmers of PM Kisan Yojana will be linked to it. Under the PM Kisan Yojana, financial assistance of Rs 6,000 is given to farmers annually. Under KCC, loans are provided at subsidized rates.
What is a Farmers Credit Card?
Kisan Credit Card has been launched to provide loans to farmers at low rates. Loans are provided at the rate of 3 to 4 percent under KCC. Apart from this, the processing fee has to be paid. Processing fee is not applicable on loan of Rs.50 thousand. This loan is given to farmers for purchase of agricultural implements, farming or other activities related to farming.
Notably, as on March 30, there are about 7.35 crore CC accounts, with a total sanctioned limit of Rs 8.85 lakh crore. According to official data, the government has disbursed agricultural loans worth Rs 6,573.50 crore at subsidized interest rates during April-August in the current financial year.
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