After linking the Pradhan Mantri Kisan Samman Nidhi Yojana and KCC Scheme, 1.5 crore farmers of the country have been given Kisan Credit Cards. Their spending limit is Rs 1.35 lakh crore. From 24 February 2020 a special campaign was being launched to give KCC to the beneficiaries of Kisan Samman Nidhi. The Modi government had announced the issuance of 2.5 crore Kisan Credit Cards with a spending limit of Rs 2 lakh crore. So right now 1 crore more beneficiaries of PM farmer will get KCC. The government wants to fill the gap between the PM farmer and the beneficiaries of KCC. Therefore, it has been made easier to take KCC for the benefit of the PM farmer. Since the registered farmers in this scheme have been biometric. The records of their agriculture, bank and Aadhaar are verified, so the bank cannot condone giving them KCC.
What is the government's decision
Under the PM Kisan Scheme, the database of Aadhar card, revenue record and bank account number of 11.45 crore farmers of the country has come to the central government. The Union Ministry of Agriculture has already approved this record of the farmers who are getting benefit of the Rs 6000 scheme.
In such a situation, the bank cannot harass the farmer for this. The farmer can tell the bank that he is getting the benefit of the PM Kisan scheme and every record of it has been verified by the central and state government.
After linking the KCC scheme to the PM Kisan scheme, the trouble of KYC (KYC) has also ended. Now only one page form has to be filled for the farmers to get a Kisan Credit Card. Which can be downloaded from the right side of the former tab by visiting pmkisan.gov.in. Here the option of download KCC form is given. The form will have to be filled after printing.
Know about KCC Scheme…
Now KCC is not limited to farming only. Animal husbandry and fisheries will also be able to get a loan of up to 2 lakh rupees under this. Any person connected with farming, fisheries and animal husbandry, even if he cultivates someone else's land, can take advantage of it.
The minimum age should be 18 years and maximum 75 years. If the farmer is over 60 years of age, then a co-applicant will also be employed. Whose age is less than 60. After filling the farmer's form, the bank employee will see if you are eligible for it.
Features and Benefits of SBI KCC
Interest is paid on the credit balance in the KCC account at the rate of savings bank. Free ATM cum Debit Card (State Bank Kisan Card) is available for all KCC borrowers at a rate of 2% per annum for a loan amount up to Rs 3 lakh.
Additional interest rebate at the rate of 3 per cent per annum on early repayment of loan is covered under notified crop / notified area, crop insurance for all KCC loans.
Simple interest will be charged at the rate of 7% per annum for one year or till the due date of repayment, whichever is earlier. In case of non-repayment within the due dates, interest will have to be paid on the card rate.
The compound interest will be compounded half yearly after the due date. The repayment period will be decided according to the estimated harvesting and marketing period of the crop for which the loan has been granted.
Form will also be used for this work
In addition to applying for the creation of a new credit card, this form can be used to increase the limit of existing cards and to start a closed credit card. In this, the farmer must first fill the name of the bank and the information of the branch in which they are applying.
To create a new credit card, one has to tick the 'issue of fresh kcc'. Apart from this, the name of the applicant and the farmers will have to fill the name of the bank account given for the PM Kisan Yojana. All other necessary information (KYC) will be matched by the bank PM account of the farmer himself. Hence the hassle of renewing KYC is over.
What to do after filling the form
After filling the form, the farmer can fill this form in his nearest bank and submit it. Once the card is ready, the bank will inform the farmer. Then it will be sent to his address.
The government has decided to give credit cards to 2.5 crore farmers enjoying the PM Kisan Yojana. Right now, there is a lot of gap between the Kisan Samman Nidhi beneficiaries and KCC coverage.
The interest rate for credit card debt is very low. The rate of interest on Kisan Credit Card to honest people is 4 percent. You can take a loan of up to Rs 1.60 lakh without security.
The government is going to distribute a loan of Rs 2 lakh crore to farmers in this financial year. Finance Minister Nirmala Sitharaman announced it under the economic package.
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