The central government is reaching out to as many people as possible to free the farmers, livestock farmers and fishermen from the clutches of moneylenders. Kisan credit card That is, KCC is trying to reach. But, when they reach the bank to get it built, they are asked for land papers as a guarantee. So apply for collateral free loan. If you apply for a loan of only Rs 1.6 lakh under KCC, then there will be no need for guarantee. This facility has also been given to fishermen and livestock owners.
The Finance Ministry, in a guideline issued on 24 September 2021, had said that collateral free KCC loans up to Rs 1.6 lakh can be availed by all card holders including fishermen. This facility will meet the requirements of short term loans for raising animals, birds, fish, shrimp, aquatic life and fishing. Earlier the facility of KCC was available only to the cultivators and their collateral free limit was only 1 lakh rupees. Earlier it was increased to Rs 1.60 lakh for farmers. After that it was also implemented for cattle farmers and fishermen.
How many livestock farmers and fishermen got the benefit
Animal husbandry and fishermen are far behind in comparison to farmers in taking advantage of KCC. Lack of awareness and tantrums of banks are the main reasons behind this. Despite the strictness of the central government, the mindset of banks is not to give loans for agriculture, animal husbandry and fisheries. Some people also like to take money from outside because of the corruption spread in the banks.
The truth is that most of the banks collect money illegally in getting KCC made. The Central Government has ordered that KCC will have to be issued within two weeks of the completion of the application. But that doesn’t happen. The arbitrariness of bank managers continues. At present, till July 22, Kisan Credit Cards of 3,33,164 cattle farmers and fishermen have been made in the country.
How much interest is charged on KCC
Under the Kisan Credit Card Scheme, the interest rate for agricultural loans up to Rs 3 lakh is usually 9 percent. But, the central government gives 2 percent exemption in this. If you repay the loan money on time, then you will get a rebate of 3%. In this way only 4% interest will have to be paid. This is the cheapest loan. Therefore, instead of taking money from a moneylender for the work of farming, animal husbandry and fish farming, it is more profitable to take advantage of KCC.
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