Good news! Farmers will receive great relief, economic loans on KCC; He will only have to pay so many interests
The discount on the interest of the loan on the credit card of the farmers will continue
Kisan credit card: The Indian economy is based on agriculture. There are many schemes for the agricultural sector by the government, according to which the loans are provided at an economic rhythm to increase the production of low -cost rate seeds and agricultural production. Now the Government has approved the continuation of the Interest Assistance System Rivest (Miss) for the tax year 2025-26. Under this, the credit cards of farmers for farmers (Kcc)) Less duration at convenient rates (short -term) loan (Loan) Obtain. This decision will help farmers great comfort. Farmers can take a maximum of RS 3 Lakh as part of this scheme. On the basis of this initiative, farmers are given the exemption from 2 % interest and a rapid re-paying incentive of 3 %, which effectively reduces the interest rate per 4 percent per year.
Farmers can be interested for a short period
The Minister of Information and Transmission Ashwini Vaishnav declared that the cabinet was made a decision to continue with the current assistance of interest of 1.5 percent for the tax year 2025-26. Continue the regime will cost the government exchange of RS 15,640 crores. Miss is a pattern of the central sector, aimed at ensuring that farmers are available in the short term (for a short time) at a rate accessible through KCC. Under Miss, farmers get a short -term loan up to three lakh rupees with an interest rate of seven percent concessionaire through KCC, in which the assistance of interest of 1.5 percent is given to suitable loan institutions.
In addition, farmers who reimburse the debt in time have the right to incentives up to three percent in the form of early reimbursement incentives (PRI). For this reason, their interest rate on KCC loans is actually reduced to four percent. The benefits of interest on zootechny or fishing loans can be up to two lakh rupees. According to an official declaration, no change has been proposed in the structure of the plan or other parties.
How many KCC accounts in India?
There are more than 7.75 KCC accounts in the country. The disbursement of the institutional loan through KCC increased from RS 4.26 Lakh Crore in 2014 to RS 10.05 Lakh Crore by December 2024. The overall flow of agricultural loans also increased from RS 7.3 Lakh in 2013-14 to RS 25.49 Lakh Crore in 2023-24.
Some facts relating to the Kisan credit card
Advantages of the Kisan credit card regime
- Seasonal vegetables
- Long -term crops, such as flowers, fruit, spices, plantations, fragrant plants and a loan for medicinal plants
- Loan for the personal needs of farmers
- Loan for the maintenance of agricultural activities
- Take agriculture, fishing, dairy products, poultry, mushrooms, zootechnics, silk products, bee palale etc.
Who has the right to the credit card of farmers?
- The benefit of the farmer credit card is the farmer, both personal or joint borrower, who perform the owner agriculture.
- Farmer tenants, oral lease and farmer contract
- Self -gruppi of farmers
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