You may have heard about Kisan Credit Card but what is Kisan Credit Card? What is its Aim? On the outline of the Kisan Credit Card, we will talk about this in our post.
What is Kisan Credit Card?
Kishan Credit Card is a step taken in the interest of farmers. Through the Kishan Credit Card, Government wants to help the farmers, so that farmers do not have to pay their farm by taking money on huge interest and do not have to farm their land with some moneylenders.
Rather, this Credit Card enables the farmer to get the crop at minimal cost, so that the people of the country can get grains at a lower price.
Format of Kisan Credit Card
Kisan Credit Card is made of plastic similar to other Credit Card, on which card number, Card Holder's name, Issue Date, Expiry Date etc. are written. There is a chip attached to it, as it is attached to other Credit Card or Debit Card, but this card is designed only for farmers and given only to them.
Kisan Credit Card AIM
Kisan Credit Card was launched in 1998 by the NDA Government. The main purpose of launching Kisan Credit Card was to arrange short-term money for the need of Indian farmers while doing farming, whatever may be required: -
- Shopping of seeds
- Food shopping
- Planting of agricultural land.
- Planting of seeds
- Crop irrigation
- Harvesting
- The cost of keeping the crop in Cold-Store
- Transportation expenditure to take the crop up to Mandi.
To complete the work which is required for doing the work etc., so that farmers do not need to take loan from any moneylender or to do this work, the farmer will not depend on any moneylender and the beneficiary of the farmer Can not afford the unfair advantage.
Firstly, the Kisan Credit Card was introduced by the then Finance Minister (Finance Minister) Yashwant Sinha, the Budget Session 1998-99. After discussing with some big banks, this plan was implemented by NABARD (National Bank for Agricultural and Rural Development).
This card is issued by Public Sector Banks, Cooperative Banks and Regional Banks. Kisan Credit Card can be used by any farmer in India whether they are tenants or sharecroppers farmers. This scheme, which simplifies Credit Delivery and Screening Process for farmers who do not understand Banking Practices and Procedures.
Banks Name Who Provide Kisan Credit Card
- Bank of India - The Bank of India provides farmers a Kisan Credit Card at a lower-cost, from which farmers can produce good and cheap crops at low cost and low interest rates. A Flexible Finance Support is provided by the Bank of India for the farmers related to the expenditure related to farming and such expenses which are not related to the farming so that farmers get financial help for both types of expenses.
- NPCI - The full name of NPCI is National Payments Corporation of India. It will also be provided by RuPay Kisan Credit Card in the near future.
- NABARD - The full name of NABARD is the National Bank for Agriculture and Rural Development and also by Kisan Credit Card Provide. Term Loans on Kisan Credit Card by NABARD and easy access to credit to farmers for their agricultural expenses etc. Facilities are provided.
- IDBI - IDBI's full name is Industrial Development Bank of India. A variety of facilities are provided on IDBI's Kisan Credit Card such as: -
-
- Crop loans
- Investment Credit
- Working Capital
Each farmer can avail the Kisan Credit Card: -
-
- Whether they are tenant farmers.
- Owners own the land of farming.
- Individual Farmer
- Sharecroppers happen.
- SBI - The full name of SBI is State Bank of India. SBI provides Short-Term Loan to farmers, which can be used to meet the related credit requirement of production. Along with this, it also provides expenditure and incidental expenses related to allied activity activities.
Who are Sharecroppers Farmer and Tenant Farmer?
Sharecroppers - Sharecroppers are farmers who cultivate the land of someone else and take part in the crop being prepared. Sharecroppers do not rent anybody's land, but they only cultivate the land of others and bear all the expenses related to farming, in return, they get the share of the crop that is prepared.
Now part of the farm land will be given to the owner and sharecroppers will take over themselves, its decision is decided before giving land to the sharecroppers.
Tenant - Tenant is a farmer who cultivates land on rent of another and carries all the expenditure related to the farm itself and takes the crop that is prepared for it. The owner of agricultural land does not have any kind of part in this crop. The owner of the agricultural land is given rent for the year.
This is the biggest difference between the sharecroppers farmers and tenant farmers.
Main Thing about Kisan Credit Card
Before issuing the Kisan Credit Card, Banks investigates the following points:
- How many agricultural land have the farmers?
- And how much income does this land have?
It is very important to have good credit for you to take a Kisan Credit Card, then you will be eligible for the Kisan Credit Card, if it happens that you take a payment from someone and you also get paid on time If you do not pay the payment to that person, then taking a Kisan Credit Card will be very difficult for you.
With the Kisan Credit Card, we receive a passbook on which the following points are mentioned: -
- Your name is written.
- The complete description of the land you received for the Kisan Credit Card is written.
- Your address is written for you and the land for which Kisan Credit Card issue has been issued.
- Validity of Kisan Credit Card is written. This means when you can use the Kisan Credit Card. It is also written on Validity Card.
- You can get the Amount from the Kisan Credit Card, its Limit is written, which is called Credit Limit.
Apart from this, more information is also printed on the passbook. With Kisan Credit Card, we provide a wide range of facilities, passbook is also one of the facilities. The card owner is identified through the passbook and your transaction is monitored. You can use this card at any of the shops as well as you can also Withdraw cash for necessary purchases.
How to Use Kisan Credit Card?
The use of Kisan Credit Card is very simple. Kisan Credit Card is also used in the same way as the common credit card used. Under this scheme, if farmers are required cash, then they can Withdraw a Loan Amount by using Withdrawal Slip and Passbook (Kisan Credit Card.). This process is exactly the same as we go by going to the bank and filling the amount deposited in our bank account with a slip. Kisan, whose Credit Card's Credit Limit is 25000, can avail the Cheque Book if they wish.
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