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Kisan Credit Card Scheme: Latest Information, Features & Objectives

The Kisan Credit Card Scheme was launched in August 1988 and is a flagship public sector scheme. The primary purpose of the scheme is to provide short-term loans to farmers. 

In this article, we will learn all about the scheme, its features and objectives. We will also look at how the scheme has fared over the decades. 

If you are appearing for the upcoming IBPS SO Agriculture Field Officer exam, or any other exam such as FCI AGM or NABARD Grade A/B, you should read this article with extra care. Such topics on government schemes are particularly tested in exams if you want to work as an Agriculture Field Officer in a public sector bank.

Kisan Credit Card Scheme Overview 

Take a look at the overall highlights of the scheme. 

Launch Year1998
Parent BodyNational Bank for Agriculture and Rural Development (NABARD) 
Ministry Ministry of Finance
Scheme TypeCentral Government

Kisan Credit Card What’s New?

Kisan Credit Card (KCC) Scheme Objectives

Kisan Credit Card Scheme Features 

  1. Up to ₹3 lac- 7%
  2. Above ₹ 3 lac- as applicable from time to time 

In essence, while most government schemes are aimed toward fulfilling the long-term and investment needs of the farmers, the KCC ensures that the farmers are able to meet their day-to-day and short term needs as well. 

Who Gives KCC?

This credit is given by participating public and private sector banks in India that includes cooperative, commercial and regional rural banks. 

Confused between Kisan Credit Card and Soil Health Card? Learn the difference here.

Kisan Credit Card Scheme Eligibility

Eligible applicants can apply for the KCC both online as well as offline. 

For the online method, they can submit an application with required documents by visiting the website of the bank with which they want to apply for a loan.

For the offline process, applicants can visit the local branch of the bank and fill in a paper application and submit the required documents with it. 

Documents required for KCC

An applicant is required to submit the following documents. 

Want to learn more? Read what the RBI says about the KCC.

Types of Credit

Essentially, there are 2 types of credit that is given to farmers; Cash Credit and Term Loan. 

Cash CreditTerm Loan
1. Short-term financial assistance
2. For smaller agricultural needs
3. No collateral needed
4. Can be paid in full or installments
1. Long-term financial assistance
2. For bigger agricultural needs
3. Collateral may be required to withdraw loans
4. Loan offered may vary from bank to bank

Benefits of KCC

KCC Progress Thus Far

Other Government Schemes for Farmers and Rural Development

There are many more related articles that we have listed for you below that will not only make you better-informed about the agriculture sector of India but will also help your overall preparation. 

Moreover, you should take some free IBPS SO AFO mock tests before you go. 

IBPS SO AFO Prelims Mock Test

IBPS SO AFO Mains Mock Test

We wish you the very best. 

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Also Read

Pradhan Mantri Matsya Sampada Yojana

Pradhan Mantri Vaya Vandana Yojana

Agriculture Infrastructure Fund: Objectives, Features and Benefits

Latest Government schemes Part 1

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