Kissan credit card

All you want to know about Kisan credit card and benefits provided to farmers under the economic package.

The Kisan credit cards were especially introduced to farmers for saving them from exploitative loans. The key feature of the Kisan credit card cards include low interest rates, quick and easy loan sanctions, services of a dedicated person to help with information and a lot more. Finance Minister Nirmala Sitaraman on Thursday, in the second tranche of the economic package announced various benefits to farmers. 

What is a Kisan Credit Card?

The Kisan credit card scheme was launched in 1998 however got a lot of updates over the years but its main aim is to provide financial support to the farmers. The Kisan Credit Card being specially designed under the NABARD (National Bank for Agriculture and Rural Development) gives an assurance of loans to farmers.

 These loans are short-term, aiming to make farmers receive proper financial aid, along with providing proper support from banks. The key feature of the Kisan credit card cards include low interest rates, quick and easy loan sanctions, services of a dedicated person to help with information and a lot more.

What is the procedure of application for Kisan Credit cards offline?

The farmers interested in availing the card would have to visit any bank of their choice and an official of the bank would guide them through the procedure. The official would brief them about the features and benefits covered under the scheme and that help out in filling the form. Once the procedure is completed, if the farmer is eligible then they would process their application and contact within 3 to 4 working days for further process. 

The bank will then ask to carry the list of required legal documents for fulfillment of the further process. With the completion of the verification, the Kisan Credit Card would be made available to the respective farmer at the given address in the documents.  

What is the procedure to apply Kisan Credit cards online?

The procedure to apply online is also simple; it first requires visiting your choice of bank’s official site and in the Kisan Credit card section. It would further show a button denoting ‘Apply’ that you have to press and it would take you to the application form.

 The form should be properly filled and then submit it and note the application reference number, which would appear after submission.  

The list of documents required for the Kisan Credit Card:-

The applicant would require the copy of address proof that includes documents like Voter ID card, Passport, Aadhaar card, driving license etc. The copy of identity proof includes Voter ID card, PAN card, Passport, Aadhaar card, Driving License etc. The address proof should be of the present residence of the farmer and other requirements are like Land documents and Passport size photo of the applicant. 

The eligibility criteria and list of banks for the Kisan CreditCard:-

All farmers are eligible for the Kisan Credit card that includes individual and joint farmers. Oral lessees, Tenant farmers, Joint liability groups including tenant farmers and sharecroppers are also covered under the scheme.

 The list of banks include Punjab National Bank, HDFC Bank, Axis Bank, Odisha Gramya Bank, Indian Overseas Bank, Bangiya Gramin Vikash Bank, Bank of India and State Bank of India

The benefits provided to farmers and through the Kisan credit cards:-

Nirmala Sitaraman had addressed the second tranche of the economic package on Thursday which stated 2 provisions for farmers and more would be given further. She stated that three crore marginal farmers received 4 lakh crores, with an increased moratorium and 25 lakh New Kisan Credit Cards were issued. 

She had also stated a pump of Rs 30,000 crores to the already Rs 90,000 crores through NABARD for small and marginal farmers. The Kisan Credit card would now be available to fisherman and workers in animal husbandry. It was also stated that a concessional boost of Rs 2 lakh crore would be given to 2.5 crore farmers even without the Kisan Credit Cards. 

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