NEWS & ADVICE : CREDIT CARDS
Kisan Credit Card: Allowing easy credit access to farmers
By Ankit Sharma
Print    Email    RSS   

Recently it was proposed to banks by the finance ministry that the credit limit on collateral free credit under KCC should be increased in a bid to hike the agricultural credit.

The rate of interest as well as collateral needed and margin amount is decided by banks as per norms set by RBI. Rate of interest is subject to change from time to time depending upon the notification from the authorities.

Advantages of KCC to the farmer:

1.Availability of adequate as well as timely credit facility.

2.It offers farmers not only access to credit but also the discretion to decide upon the utilization of credit.

3.Since repayment is fixed on annual basis, therefore credit requirement of the farmer is taken care of for the entire year.

4.Opportunity to make unlimited withdrawals and repayments within the set credit limit.

5.Personal accident cover offered is an added advantage to farmers.

Pitfalls in the scheme:

1.Lack of awareness and education amongst farmers to understand the positive aspects of the scheme.

2.Adequate credit requirements of the farmers has been found not met as envisaged in the plan.

3.The documentation process for the scheme has been found to be a cause of concern for farmers sometimes.


 


Page    | 123 |
(Comments Posted : 6) Post Your Comments
1. I OWN A LAND AT DIST. JODHPUR (RAJASTHAN) VILLAGE JHAKAN (OSIA) . I REQUIED A KISAN CREDIT CARD. PLS CONTECT ME THIS MOBIL NO. 9636618778
PURAN SINGH (Posted: Feb 12, 2014)
2. I OWN A LAND AT DIST. JODHPUR (RAJASTHAN) VILLAGE JHAKAN (OSIA) . I REQUIED A KISAN CREDIT CARD. PLS CONTECT ME THIS MOBIL NO. 9636618778
PURAN SINGH (Posted: Feb 12, 2014)
3. I OWN A LAND AT DIST. JODHPUR (RAJASTHAN) VILLAGE JHAKAN (OSIA) . I REQUIED A KISAN CREDIT CARD. PLS CONTECT ME THIS MOBIL NO. 9636618778
PURAN SINGH (Posted: Feb 12, 2014)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Kinds of auto insurance coverage
Now a test for Financial Skills!!!
American Express Platinum Corporate Card:...
Kisan Credit Card: Allowing easy credit...
Rupeetimes guide to different types of...


Daawat*Call giℛℒ escort In ZiRaKpUr OOOOOOOOOO...
Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive