Under the ‘Pashu Kisan Credit Card Scheme’ launched by the government to support farmers, loans can be availed for purchasing cows, buffaloes, goats, chickens, and more. This initiative aims to promote animal husbandry and increase farmers’ incomes.
In her recent budget speech, Finance Minister Nirmala Sitharaman announced an increase in the loan limit under this scheme. Earlier, loans were capped at ₹3 lakh, but now farmers can avail of loans up to ₹5 lakh.
Key Details of the Pashu Kisan Credit Card Scheme:
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Farmers can avail loans up to ₹2 lakh at an interest rate of 7%.
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Timely repayment qualifies farmers for an additional 3% incentive.
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For early repayment, the effective interest rate on loans up to ₹2 lakh is reduced to just 4% per annum.
How to Apply: To benefit from this scheme, visit your nearest bank branch and fill out the application form. Ensure you submit all the required documents. Once the process is complete, the bank issues the Pashu Kisan Credit Card within 15 days.
Source: Krishi Jagran
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