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{{Short description|Credit card}} | |||
{{Use dmy dates|date=March 2019}} | {{Use dmy dates|date=March 2019}} | ||
{{Use Indian English|date=March 2019}} | {{Use Indian English|date=March 2019}} | ||
{{More citations needed|date=February 2017}} | {{More citations needed|date=February 2017}} | ||
The '''''Kisan Credit Card''''' ('''KCC''') scheme is a credit scheme introduced in August 1998 by Indian banks. This model scheme was prepared by the [[National Bank for Agriculture and Rural Development]] (NABARD) on the recommendations of R.V.GUPTA committee<ref>{{cite book|title=Study on Implementation of KCC Scheme - page 22|url=https://www.nabard.org/auth/writereaddata/Flipbook/2017/Publication/NABARD-Study-on-Implementation-of-KCC-Scheme/HTML/files/assets/basic-html/page22.html |quote=Accordingly, on the recommendations of R V Gupta Committee, NABARDformulated a Model Kisan Credit Card Scheme in consultation with major | The '''''Kisan Credit Card''''' ('''KCC''') scheme is a credit scheme introduced in August 1998 by Indian banks. This model scheme was prepared by the [[National Bank for Agriculture and Rural Development]] (NABARD) on the recommendations of R.V.GUPTA committee<ref>{{cite book|title=Study on Implementation of KCC Scheme - page 22|url=https://www.nabard.org/auth/writereaddata/Flipbook/2017/Publication/NABARD-Study-on-Implementation-of-KCC-Scheme/HTML/files/assets/basic-html/page22.html |quote=Accordingly, on the recommendations of R V Gupta Committee, NABARDformulated a Model Kisan Credit Card Scheme in consultation with major banks in the country. }}</ref> to provide term loans for agricultural needs. | ||
Its objective is to meet the comprehensive credit requirements of the agriculture sector and by 2019 for fisheries and animal husbandry by giving financial support to farmers. Participating institutions include all commercial banks, [[Regional Rural Bank]]s, and state co-operative banks. The scheme has short term credit limits for crops, and term loans. KCC credit holders are covered under personal accident insurance up to ₹50,000 for death and permanent disability, and up to ₹25,000 for other risk. The premium is borne by both the bank and borrower in a 2:1 ratio. The validity period is five years, with an option to extend for up to three more years. Kisan Credit Card (KCC) offering credit to the farmers in two types viz, 1. Cash Credit 2. Term Credit ( for allied activities such as pump sets, land development, plantation, drip irrigations). | Its objective is to meet the comprehensive credit requirements of the agriculture sector and by 2019 for fisheries and animal husbandry by giving financial support to farmers. Participating institutions include all commercial banks, [[Regional Rural Bank]]s, and state co-operative banks. The scheme has short term credit limits for crops, and term loans. KCC credit holders are covered under personal accident insurance up to ₹50,000 for death and permanent disability, and up to ₹25,000 for other risk. The premium is borne by both the bank and borrower in a 2:1 ratio. The validity period is five years, with an option to extend for up to three more years. Kisan Credit Card (KCC) offering credit to the farmers in two types viz, 1. Cash Credit 2. Term Credit ( for allied activities such as pump sets, land development, plantation, drip irrigations). | ||
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Latest revision as of 21:22, 9 October 2021
 | This article needs additional citations for verification. (February 2017) |
The Kisan Credit Card (KCC) scheme is a credit scheme introduced in August 1998 by Indian banks. This model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendations of R.V.GUPTA committee[1] to provide term loans for agricultural needs.
Its objective is to meet the comprehensive credit requirements of the agriculture sector and by 2019 for fisheries and animal husbandry by giving financial support to farmers. Participating institutions include all commercial banks, Regional Rural Banks, and state co-operative banks. The scheme has short term credit limits for crops, and term loans. KCC credit holders are covered under personal accident insurance up to ₹50,000 for death and permanent disability, and up to ₹25,000 for other risk. The premium is borne by both the bank and borrower in a 2:1 ratio. The validity period is five years, with an option to extend for up to three more years. Kisan Credit Card (KCC) offering credit to the farmers in two types viz, 1. Cash Credit 2. Term Credit ( for allied activities such as pump sets, land development, plantation, drip irrigations).
See also[edit | edit source]
References[edit | edit source]
- ↑ Study on Implementation of KCC Scheme - page 22.
Accordingly, on the recommendations of R V Gupta Committee, NABARDformulated a Model Kisan Credit Card Scheme in consultation with major banks in the country.
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