When did the Government present the Kisan Credit Card Scheme?

Key Points

• Sat Aug 01 1998 00:00:00 GMT+0530 (India Standard Time) is when the Government presented the Kisan Credit Card Scheme.
• The Kisan Credit Card (KCC) scheme was launched by the Government of India to provide farmers with timely access to credit.
• The scheme aims to fulfill the comprehensive credit requirements of the agriculture sector by giving financial support to farmers.
• It is implemented by commercial banks, Regional Rural Banks (RRBs), and cooperative banks.
• The KCC scheme covers both short-term credit for crop production and term credit for allied activities and non-farm activities.

Additional Information

• The Kisan Credit Card (KCC) scheme was introduced by the Indian government in consultation with the Reserve Bank of India (RBI).
• The scheme is designed to provide adequate and timely credit support from the banking system under a single window to the farmers for their cultivation and other needs.
• Farmers can avail themselves of the KCC for purchasing agricultural inputs such as seeds, fertilizers, pesticides, and also to meet other agricultural expenses.
• The KCC scheme also provides coverage for personal accidental insurance.
• Interest subvention and prompt repayment incentives are also provided under the scheme to encourage timely repayments by farmers.