Kissan Credit Card (KCC)
Kissan Credit Card (KCC)
The Dhanam Kissan Credit Card directly addresses a farmer’s short-term and contingent credit needs. It facilitates adequate and timely credit for a farmer’s comprehensive credit requirements under a single window adopting a whole farm approach.
- For crop loans with a validity period of 3 years, subject to annual review. When term loan facilities are sanctioned, the validity of the card may be extended from 3 years to 5 years.
- Short term/crop loans and working capital for agriculture and similar loans will be provided as revolving cash credit limit, repayable in 12 months.
- Term loans repayable within a maximum period of 5 years, depending on the type of activity/investment.
- No withdrawal in the account should remain outstanding for more than 12 months for crop loans, except in cases where loans are given for sugarcane, banana and other annual yielding crops. In such cases, debits to be wiped out at the time of marketing of produce or within 18 months, whichever is earlier. As far as possible, borrowers are advised to remit the amount whenever there are surpluses and keep the account operative. It is also advisable to remit the sale proceeds of the crops directly to the Card Account
The criteria for selecting persons for issuing a Dhanam Kissan Cards are as follows:
- Loan for any activity coming under purview of production credit of agriculture, working capital requirements of allied activities may be considered under the scheme ensuring repayment capacity of farmers
- Dhanam Kissan Card is not issued to parties dealing in Selective Credit Control commodities, minors, and POA holders
- The applicant should not be a defaulter with any financial institution, and should come within the Service Area Norms, subject to relaxations therein
- All applications duly filled in
- Two copies of passport size photographs
- Copies of land records like Record of Rights, patta have to be obtained wherever mortgage is involved
- Schedule of crops to be grown for 1 year
- For limits up to Rs.1,60,000: Hypothecation of crops and/or movable assets
- For limits above Rs.1,60,000: Hypothecation of crops and/or movable assets and mortgage of landed property
- Kissan Credit Card shall be valid for 5 years subject to an annual review
Kissan Credit Card Activity Kisan Credit Cards (KCC) for Animal Husbandry, Dairying and Fisheries
KCC for allied activities shall be issued exclusively for animal husbandry, dairying and fisheries and other allied activities. No separate KCC shall be issued for composite KCC, which includes credit facility for agriculture and allied activities or augmentation of credit limit on the existing KCC(agriculture) due to add on requirement for allied activities