Most of us are take loans for agricultural purposes or other purposes . As far as agricultural needs go, we take out a lot of loans. Currently we take out gold loans as well as loans for our assets to the bank. For farmers, the important of a Kisan credit card is huge at this time . Moreover, when all the governments plans and benefits are limit to those who have Kisan credit card in the future.
Farmers who do not have Kisan credit card will have to get out of the scheme. That is ,there is a situation where others are left behind. In the future, farmers holding Kisan credit cards will be able to borrow gold loan for agricultural purposes. At the same time, the scheme enables them to borrow up to Rs 1,60, 000 .
Upon submission of the documents , required by the bank the loan can be up to Rs 3,00,000 . That too at adjust 4% interest. It is a short term loan. If we pay back the loan, we get an interest based subsidy. One benefit of this is that, the interest rate is 9 % ,after the 5 % subsidy and the farmer receives the remaining 4% interest.The Kisan credit card is not mandatory for beneficiaries under the Kisan Samman Nidhi, as per the latest state department of agriculture order.An order is currently being issued that they will not be entitled to a Kisan credit card. In addition, there are about 35 types of agriculture listed for loan through Kisan credit card.
The department now recommends that the agricultural officers of the respective areas involved and resolve any obstacles that may arise from approaching the bank to obtain a loan for cultivation purposes . Moreover, it is specifically mentioned in the order of the director.
Most banks are reluctant to do so now , with a mandatory to lend free of charge. So if there any problems, that is contacting the agriculture office, we can find the solution. The instructions for this have now been received from the respective Directorate of agriculture, each of the agriculture Officers.
Once the loan is approved ,we get a Kisan credit card in green colour. since this is an ATM model card, if our loans are credited to the account, we can withdraw the amount with this credit card as needed. Currently how much we withdraw ,we pay interest on that amount. The final order states that the certificate issued by the agriculture Officer is not required to obtain this loan. When we apply ,they said to be the Kisan credit card is available to the farmer within 14 days of application.