What is Kisan Credit Card?
Answers
Answer:
facility provided to rural farsighted
The Kisan Credit Card (KCC) scheme was introduced in 1998-99 to fulfil the financial requirements of the farmers at various stages of farming through institutional credit.
As a result, the model scheme was prepared by National Bank for Agriculture and Rural Development (NABARD) on the recommendation of R.V Gupta committee.
Who is eligible to get the benefits of the Kisan Credit Card (KCC) Scheme;
1. The Small farmers
2. The Marginal farmers
3. Share croppers
4. Lessee and tenant farmers
5. The Self Help Groups (SHGs) or Joint Liability Groups (JLGs)
In case of credit limit above Rs. 1 lakh, beneficiary has to pledge the crops or pledge his land as mortgage. However, collateral security may be obtained at the discretion of bank in some cases.
Kisan Credit Card is valid for 5 years subject to annual review and performance of the borrower.
(Lesse- a person who has a legal agreement (a lease) allowing him/her use of a building, an area of land, etc.)