Union Minister of State for Agriculture Kailash Chaudhary has told that till now more than 1 crore farmers of the country have been issued KCC i.e. Kisan Credit Cards and under this Rs 89,810 crore have also been sent to farmers’ accounts.
Significantly, under KCC, taking a loan of up to three lakh rupees only attracts 7 percent interest. If the farmer returns this loan on time, then the farmer gets a further rebate of 3%. In such a situation, its rate for farmers is just 4 percent. A loan of up to 2 lakh rupees can be availed on 1 hectare land under KCC. However, the limit of this loan varies from bank to bank.
Source: News 18
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