How a Kisan Credit Card Has Been Empowering The Agriculture Sector Of Our Country?
Among all the important categories in our country, the agriculture sector holds quite an important place. Farmers in our country often don’t believe in taking loans from the banks due to some misconception and ends up borrowing from the local lenders and non-banking sources. These loans often come at a high rate of interest and without proper documentation. To make the farmers of our country financially empowered, Kisan Credit Card (KCC) scheme was launched in 1998 to provide term loans and agricultural loans to the farmers. The KCC was established by the National Bank for Agriculture and Rural Development (NABARD) and since then, various public & private sector banks and financial institutions have been providing this credit card scheme to the needy farmers. A KCC loan scheme covers many things like the cost of cultivation, harvest and land maintenance. When farmers are less worried about the hefty interest and financial part, they can have a much better focus on the agric...