Budget 2025: Finance Minister Nirmala Sitharaman Announced an increase in the Interest Subvention Scheme for the Kisan Credit Card (KCC), Raising The Limit from Rs 3 Lakh To Rs 5 Lakh.
Presenting the eighth cultural budget today, Sitharaman Said, “Kisan Credit Card Facilites Short-Term Loans for 7.7 Crore Farmers, Fishermen and Dairy Farmers. will be enhanced from Rs 3 lakh to Rs 5 lakh for loans TAKEN Through the kccc. es will be set up at namrup in assam . ”
What is Kisan Credit Card?
Kisan Credit Card (KCC) is one of the most popular schemes amon farmers. Introduced in 1998, The KCC Scheme Aims to Simplife The Loan Process for Farmers. Under this scheme, Loans are provided for Agricultural Activities at An Affordable Interest Rate of just 4 per cent. The minimum age for applicants is 18 years, and there is no upper age limit. A maximum loan of up to Rs 3 lakh can be taken under this scheme, with a maximum loan tenure of 5 years. The validity of the kisan credit card is also five years.
To apply for a kisan credit card, farmers must meet certain eligibility criteria, such as being an owner-cultivator, sharecropper, tenant farmer, or a memeber of a sep-group or jelp Group or JOLP GROP They must also be involved in the production of crops or allied activities Earlier, Loans Above Rs 1.60 Lakh Required A Guarantee. Recently, the reserve bank of India (RBI) Increased The Guarantee-Free Loan Limit to Rs 2 Lakh. This means loans up to Rs 2 lakh can now be available without any collectorate.
