Now without going to the bank, the farm loan is available in a few minutes, KCC’s digital portal is ready
Farmers are now easy to take agricultural loans. In fact, the National Agricultural and Rural Development Bank (NABARD) has prepared an E -Pharma Credit Portal for rural banking companies in collaboration with 24×7 Moneyworks Consulting in Chennai, so that the loans will be given to the Kisan Credit Card (KCC) holders immediately and time. Farmers can submit a loan application without going to the bank through this portal, specially designed for rural cooperative banks (RCB) and regional rural banks (RRBS).
E-KCC platform in six states
Currently, farmers should go to the bank several times to accept agricultural loans. According to the Financial Express, NABARD Deputy MD Ajay Sood said, “KCC holders can be released in a short time using the Digital Platform. According to Sood, the pilot project is being implemented for debt approval in six states.
The old loan process can cause embarrassment
The E-KC Portal uses the Innovation Hub’s integrated loan interface for digital land records. Also, Aadhaar authentication to accept loans to farmers, e-KYC, E-SIGN and Aadhaar Data Vault. At the same time, banking officers said that the old loan process for KCC holders is ‘filled with trouble’, as farmers have to go to the bank several times, it takes 3-4 weeks longer and is mainly paper-based procedures.
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Officials said that all the RCB and the RRB are currently working. Also, the work of issuing KCC on digital platforms is also underway. According to official note, commercial banks have made significant progress in digital changes. At the same time, rural banks are often lagging behind due to cost and limited technical capacity.
Farmers get a farm loan soon
NABARD President Shazi KV recently said, “The e-KCC has shown the ability to improve the transparency and improving transparency. It helps cooperative banks, packs and RRBS to provide sharp, transparent and more comprehensive loan services to small and marginal farmers.”
About 8 lakh KCC holders in the country
Officials said the aim was to develop the portal into a comprehensive agricultural-lamp platform by the inclusion of loan products for dairy wealth, national fisheries digital platforms and automated interest subsidy for automated interest subsidy. Apart from this, KCC is a banking product, which provides timely and affordable loans to farmers to meet agricultural inputs, including seeds, fertilizer and pesticides and cash requirements for crop production.
Explain that there are currently about 8 crore active KCC holders in the country, of which 1.24 lakhs and 4.5 crore KCC have been issued for fisheries and livestock respectively. According to the revised interest assistance scheme of the Ministry of Agriculture, KCC holders will be given up to Rs 3 lakh per 7 % interest. However, for the financial year 2026, the government increased the agricultural-law limit to Rs 5 lakh annually.
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