Categories: Business

Government aims to distribute 2,5 crore new kisan credit card


Kisan Credit Card

new Delhi. Giving big relief to the farmers, the government is going to extend the deadline for repaying the outstanding amount on Kisan Credit Card by 3 months. Agriculture Minister Narendra Singh Tomar has given this information on the special program of India TV on the occasion of completion of one year of Modi government. The Agriculture Minister said that even today farmers have 4 lakh crore rupees through Kisan Credit Card, which should have been deposited by 31 March as interest subsidy. But due to the lockdown, the deadline has been extended to 31 May and now the government is going to extend it further to 30 August.

According to the Agriculture Minister, a target of giving credit cards to 25 million farmers has been set in the relief package released by the government. This will provide additional cash of Rs 2 lakh crore to rural areas. Which will help the farmers in times of difficulties.

Effective interest on farmers can be reduced by up to 2 per cent on purchases made through Kisan Credit Card. No guarantee is required for loans up to Rs 1.6 lakh through the card. Through this, crop insurance is also provided. At the same time, the period of repaying money on the Kisan Credit Card is decided on the basis of the crop duration, so that the farmer can easily repay the amount after harvesting. Loans up to 3 lakh can be availed through the card.

This post was published on May 29, 2020 2:39 pm

Content Team

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