Kisan Credit Card Scheme

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Kisan Credit Card Scheme:

Nodal Ministry: Ministry of Finance

What is it?

It was introduced in 1998 for issue of Kisan Credit Cards to farmers in order to provide loans for agriculture needs. The model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendations of R.V.GUPTA committee.

Purpose/Objective:

• To meet the short-term credit requirements for cultivation of crops

• Post-harvest expenses

• Produce marketing loan

• Consumption requirements of farmer household

• Working capital for maintenance of farm assets and activities allied to agriculture

• Investment credit requirement for agriculture and allied activities.

Applicability of the scheme:

It is to be implemented by Commercial Banks, RRBs, Small Finance Banks and Cooperatives.

Target Beneficiaries/Eligibility:

• Farmers – individual/joint borrowers who are owner cultivators

• Tenant farmers, oral lessees & share croppers

• Self Help Groups (SHGs) or Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers etc.

Latest Update: KCC has now been extended to fisheries and animal husbandry farmers to help them meet their working capital needs.

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