In a bid to improve the economic condition of the nation in the post-coronavirus lockdown phase, Finance Minister Nirmala Sitharaman announced a series of steps on Thursday. Most of these schemes focused on benefits and reliefs to farmers, street vendors, migrants and the middle income salaried class.
Keeping the agriculture sector in mind, the government announced Rs 2 lakh crore of concessional credit for 2.5 crore farmers through Kisan Credit Cards. The credit-linked subsidy scheme is valid till March 2021.
How can one apply for the Kisan Credit Card?
Step 1 – To apply for the card, go to the official website of your bank or visit your bank
Step 2 – Check out the loans option at the home page and search ‘Apply for KCC’
Step 3 – Read and fill the form completely
Step 4 – Click on the ‘submit’ button
Step 5 – You will receive an application reference number
Step 6 – Save the number for future reference
Documents Required to Apply for Kisan Credit Cards
One needs to have the following documents to apply for KCC:
Duly filled and signed application form
A copy of any identity proof out of Aadhaar card, PAN card, Voter ID or driving licence
A copy of any address proof document out of Aadhaar card, voter ID or driving licence
All the land documents
2 passport size photos of the applicant
Other documents requested by the issuing bank
Benefits of Kisan Credit Cards
Different banks provide various schemes with the KCC. However, some of the basic benefits include:
Flexible loan repayment options
Hassle-free loan disbursement procedure
Single credit facility for all agricultural requirements
Aid in purchasing fertilizers, seeds, etc.
Available credit for a period of up to 3 years
Minimal documentation and maximum flexibility
Funds can be withdrawn through any of the bank’s branches.