Kisan Credit Card Update: The central government is implementing numerous government schemes to benefit farmers. This scheme is being implemented to empower farmers financially. The government transfers ₹6,000 to farmers annually under the PM Kisan Yojana. It also operates the Kisan Credit Card Scheme to compensate farmers for crop losses.
Under this scheme, farmers can avail loans to meet their farming needs. They can also avail loans for animal husbandry, dairy, and fisheries under the Kisan Credit Card. The scheme’s primary objective is to protect farmers from collateral and expensive loans and to boost agricultural production.
For your information, the government has integrated the Kisan Credit Card with the MISS Scheme, which will provide even more benefits to farmers. Therefore, there is no need to delay. You can take advantage of the Kisan Credit Card to make farming easier.
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Features of the Kisan Credit Card Scheme
According to information, the government is providing loans under this scheme at a rate of just 4%. The only condition is to make timely payments. The government does not require any security for the loan. However, loans up to ₹2 lakh are available. If you provide a land guarantee, you can get a loan of up to ₹3 lakh. There is no processing fee for the loan holder under this scheme. The loan term is 5 years.
What are the required documents? Who benefits?
Regarding the required documents, you will need an Aadhaar card, land-related documents, and a bank passbook to apply for the scheme. This scheme only benefits small, marginal, and large farmers. In addition to agricultural farmers, those engaged in dairy farming, fish farming, poultry farming, and goat rearing also benefit.
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What are the benefits of the scheme?
This scheme will help farmers get rid of debt from expensive moneylenders. At the same time, loans for agriculture and investments in animal husbandry and fisheries will be readily available at low interest rates. Income will increase during production, strengthening the rural economy. Farmers will receive interest rebates if they repay their loans on time.
