T.Y.B.COM | SEM 6 | Economics - Kisan Credit Card (KCC) | VNSGU

KISAN CREDIT CARD

THIS SCHEME OF KISAN CREDIT CARD WAS INTRODUCE IN 1998-99 TO FACILITATE ACCESS TO CREDIT FROM COMMERCIAL BANK AND REGIONAL RURAL BANKS.

SALIENT FEATURES OF THIS SCHEME :

FARMERS ELIGIBLE FOR PRODUCTION CREDIT OF RS 5000 OR MORE ARE ELIGIBLE FOR THE ISSUE OF KISAN CREDIT CARD.
ELIGIBLE FARMERS ARE PROVIDED WITH A KISAN CREDIT CARD OR CARD CUM- PASS BOOK.
PROVISION OF REVOLVING CASH CREDIT FACILITY INVOLVING ANY NUMBER OF DRAWALS AND REPAYMENTS WITHIN LIMIT.
*LIMIT IS FIXED ON THE BASIS OF OPERATIONAL LAND HOLDING, CROPPING PATTERN AND SCALE OF FINANCE.
SUB-LIMITS MAY BE FIXED AT THE DISCREATION OF BANKS.
CARD IS VALID FOR THREE YEARS SUBJECT TO ANNUAL REVIEW.
EACH DRAWAL IS TO BE REPAID WITHIN 12 MONTHS.
CONVERSION RESCHEDULEMENT OF LOANS IS ALSO PERMISSIBLE IN CASE OF DAMAGE TO CROPS DUE TO NATURAL CALAMITIES.
SECURITY MARGIN, RATE OF INTEREST ETC, ARE AS PER THE NORMS OF THE RESERVE BANK.
OPERATIONS MAY BE THROUGH ISSUING BRANCH OR AT THE DIRECTION OF BANK THROUGH OTHER DESIGNATED BRANCHES.
WITHDRAWALES TO BE MADE THROUGH SLIPS/CHEQUES ACCOMPANIED BY CARD AND PASSBOOK.
ENTIRE CREDIT NEEDS FOR FULL YEAR PLUS ANCILLIARY ACTIVITES RELEATED TO CROP PRODUCTION IS CONSIDERED WHILE FIXING THE LIMIT.

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