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The Kisan Credit Card (KCC) is a scheme that provides farmers with credit for their agricultural as well as non-farm needs. The scheme was introduced in 1998 by public sector banks in India.
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Benefits:
- Interest subvention:
- The government of India provides a 2% interest subvention to farmers.
- Repayment Incentive:
- Farmers get a 3% incentive for prompt repayment.
- Simple Procedures:
- The scheme offers flexible and simplified procedures to help farmers get credit when they need it.
The National Payments Corporation of India (NPCI) designs the KCC card, which is then adopted by banks with their branding.
