As of now, the central government has made some changes to the KCC scheme with new benefits for the people who currently have livelihoods in the time of this covid 19 . The RBI has recommended this benefit to be granted for all eligible beneficiaries applying. The amount of KCC credit available through commercial banks in the state as well as through small banks is upto Rs 3lakh. Benefits up to 3 lakhs are required to be security however if you have to take Rs 1.50 lakh there is don’t want security. Similarly it is a short term loan.
For all those who have lost their livelihoods in the time of this lockdown, they have to start once again. This scheme has now been launched to provide them with all the benefits to reach the mainstream of society. We get up to Rs 3 lakh as short term loan. At 9% interest ,we get a 5% interest on this loan which is central subsidy. If we do not make any repayment of our interest payment. Thus providing an interest concession to our central government. In that case, only 4percentage interest we should pay. The balance we will get back. This is known as Kisan credit card scheme( KCC scheme ).
There was also a term that, this card should be issued to those who were formerly members of the Kisan Samman fund. It was later changed. For small farmers, who are currently eligible, this is a golden opportunity for them. This loan for the purpose of production of seeds and fertilizers.And for all its storage and distribution at the time of production. The maximum loan available per cent is up to Rs 5,000. We can borrow various items up to Rs 1.5 lakh .There is no need to security separately .
Loans upto Rs 3 lakhs are required security. A new order has been issued with the condition that the gold in our hands be given as security. For those who want to do fish farming and beekeeping, this benefit is extended to all sectors. After considering the current farming and related matters, the concerned bank manager will determine the appropriate amount . KCC, like the rupay credit card, has something to offer us beneficiary can withdraw the amount at any time during the farming period, at any time through the ATM counter.
This is one of the biggest benefit to agriculture during this recession.
Documents
- Receipt of land payment.
- Property ownership certificate .
- Aadhar card
- PAN Card details
- Photo
At banks near you, there will be KCC loan arrangements. Our rural banks also have this facility. For short term loans, interest deduction is available. But for long term loans, the interest rate is 8-9 %.