Good news! Farmers get big relief and cheap loans in KCC; So much interest will have to be paid
Farmer will continue discount on debt interest on credit card
Kisan Credit Card: The Indian economy is based on agriculture. The government has many plans for the agricultural sector, under which the cheaper seed seed and the loans are paid at a cheap rate to increase food and agricultural production. The government has now approved the revised Interest Scheme (Miss) in the fiscal year 2025-26. Under this, the farmers’ credit cards for the farmers (KCC)) Low period in affordable rates (short -term) debtCredit) Available. This decision will help the farmers for the best facility. Under this scheme, farmers can take a maximum of Rs 3 lakh. Under this initiative, farmers are given a 2 per cent exemption and a 3 per cent rapid re -payment, which reduces the interest rate to 4 per cent annually.
Farmers may be interested in short time
Information and Broadcasting Minister Aswini Vaishnav said that the decision was taken by the Cabinet with the help of the current 1.5 per cent interest for the fiscal year 2025-26. Continuing the project will cost the government Rs 15,640 crore. Miss is a central sector program that aims to ensure that farmers get the KCC to the short -term (short -term) in an affordable interest rate. Under Miss, farmers get a short -term loan of up to three lakh rupees at a seven per cent concession rate through the KCC, in which eligible loans provide 1.5 per cent interest assistance.
In addition, farmers who have timely repayment of loans are eligible for up to three percent in the form of an early repayment incentive (PRI). Because of this, the interest rate on KCC loans is effectively reduced to four percent. Interest benefits on livestock or aquarium loans can be up to two lakh rupees. According to the official report, no change has been proposed in the structure of the project or other areas.
How many KCC accounts in India?
There are 7.75 crore KCC accounts in the country. Company lending by KCC increased from Rs.4.26 lakh crore in 2014 to Rs.10.05 lakh crore by December 2024. The overall agricultural credit flow was Rs 7.3 lakh crore in 2013-14 to Rs 25.49 crore.
Some facts related to Kisan Credit Card
Benefits of Kisan Credit Card Scheme
- Seasonal vegetables
- Long -term crops such as flowers, fruits, spices, gardens, fragrant plants and credit for medicinal plants
- Debt for the individual needs of the farmers
- Credit to maintain agricultural assets
- Take agriculture, aquarium, milk, poultry, mushrooms, livestock, silk products, bee.
Who worthy of the farmer’s credit card?
- The benefit of the farmer’s credit card is the farmer, the individual or collective borrowers, but the privacy farming.
- Tenber Farmer, Oral Leasing and Partner Farmer
- Self -groups of peasants
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