Kisan Credit Card

Union Finance Minister Nirmala Sitharaman in her budget for FY26 increased the loan limit for farmers holding KCC to Rs 5 lakh from Rs 3 lakh earlier

The number of operative KCCs declined by 2.7 per cent during the financial year 2024-25 (FY25) over the previous year

The finance ministry on Tuesday said the amount under operative Kisan Credit Card (KCC) accounts has crossed Rs 10 lakh crore, benefiting 7.72 crore farmers as of December 31, 2024. The operative KCC amount stood at Rs 4.26 lakh crore in March 2014. This indicates a significant increase in the quantum of affordable working capital loans provided to farmers for agriculture and allied activities, the finance ministry said in a statement. It is a reflection of credit deepening in agriculture and reduced dependency on non-institutional credit, the ministry added. KCC is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilisers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities. In 2019, the KCC scheme was extended to cover the working capital requirements of allied activities like animal husbandry, dairy and fisheries. The government, under the Modifie

Even now, KCC loan limits are also gradually expanded periodically based on the repayment capacity and overall credit profile of the customer

Kisan Credit Cards (KCC) facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers

According to expert this increase in loan limits will help farmers overcome immediate financial needs that could arise during crop cycles

Launched in 1998, Kisan Credit Card scheme had over 74 million accounts, with outstanding credit of Rs 8.9 trillion as of June 30, 2023

Panchayati Raj Secretary Vivek Bharadwaj said 20.19 million property cards have been prepared till now

Under the scheme, insurance of animals would be necessary and the borrower will have to get life insurance equivalent to the loan amount

The National Bank for Agriculture and Rural Development (NABARD) on Thursday said it has partnered with Reserve Bank's arm RBIH to put in place a system which will enable faster processing of agricultural loans. NABARD said it will integrate its e-KCC loan origination system portal with the Public Tech Platform for Frictionless Credit (PTPFC) of Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. NABARD has developed the loan origination system portal to facilitate digital Kisan Credit Card (KCC) loan processing for cooperative banks and Regional Rural Banks (RRBs). "The digitisation of agricultural lending will ensure instant doorstep delivery of credit to farmers while improving the efficiency of banks, advancing NABARD's mission of fostering rural prosperity," NABARD chairman Shaji K V said. The partnership agreement was signed by the NABARD chairman and Rajesh Bansal, CEO, RBIH. Through the integration with PTPFC, about 351 district and state cooperative

The net advances grew by 18.5 per cent YoY and 3.9 per cent QoQ. Deposits stood at Rs 13.3 trillion, with CASA ratio at 39.4 per cent down 20 bps sequentially

Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on Saturday to review the financial performance of lenders. PSU banks have earned a net profit of about Rs 68,500 crore during the first six months of the current financial year. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), sources said. This is the probably last full review meeting before the presentation of Budget 2024-25 and general elections later next year. She will also discuss on measures to improve customer service and cyber security, sources said. The finance minister would also review financial inclusion, credit growth, asset quality, and business growth plan of banks for the next financial year, the sources said, adding non-performing assets (NPAs) and the reco

Government launches Kisan Rin Portal under the Kisan Credit Card scheme to revolutionise the agriculture sector of India, along with the weather information Network Data Systems (WINDS) portal

Union Finance Minister Nirmala Sitharaman will hold a meeting with chairpersons and senior officials of RRBs from the Northern region in New Delhi on Wednesday

Axis Bank will offer Kisan Credit Card (KCC) and unsecured micro, small and medium enterprises (MSME) loans to customers, powered by the PTPFC platform

The Platform is being developed by Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of RBI

Loans being given to farmers under the Centre's Kisan Credit Card Scheme will be extended to fisherfolk as well, Union Minister Parshottam Rupala said here on Monday. The Union Minister of Fisheries, Animal Husbandry and Dairying was speaking at an event to mark the third phase of the 'Sagar Parikrama' initiative at Satpati. "Under the Pradhan Mantri Matsya Sampada Yojana, Prime Minister Narendra Modi has made available funds to the tune of Rs. 20,000 crore. Moreover, 7 per cent loan under Kisan Credit Card scheme will be given to fishermen as well," he said.

Central bank to consider findings of pilot projects before decision, he says

Project aims to prune costs and turn-around time for borrowers, will entail automation of various processes within banks and integration of their systems with those of service providers

To transform rural credit delivery system, the Reserve Bank has decided to launch pilot projects to digitise Kisan Credit Card (KCC) in Madhya Pradesh and Tamil Nadu. Based on the learnings from the pilot, it is planned to expand the digitalisation of KCC lending to other districts in these two states and gradually across the country, the RBI said in a statement. The pilot project would entail automation of various processes within banks and integration of their systems with the service providers, it said, adding, the proposed digitalisation of the KCC lending process will make it more efficient, reduce costs for borrowers and reduce turn around time (TAT) significantly. The TAT from loan application to disbursement has also been rather high, ranging from two to four weeks. Rural credit is closely related to inclusive economic growth, as it caters to the requirements of agriculture and allied activities, ancillary industries, small businesses, etc. At present, it said, the process