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National Conference on Agriculture for Rabi Campaign 2019

National Conference on Agriculture for Rabi Campaign 2019 Interest Subvention Scheme and Kisan Credit Card. Interest Subvention Scheme (ISS). Launched in the year 2006-07 to provide concessional short term crop loans including loan availed through Kisan Credit Card (KCC) to the farmers

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National Conference on Agriculture for Rabi Campaign 2019

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  1. National Conference on Agriculture for Rabi Campaign 2019 Interest Subvention Scheme and Kisan Credit Card

  2. Interest Subvention Scheme (ISS) • Launched in the year 2006-07 to provide concessional short term crop loans including loan availed through Kisan Credit Card (KCC) to the farmers • Enables banks to provide short term crop loans up to 3 lakhs to farmers at an interest rate of 7 percent per annum for one year • Additional 3 percent subvention given to the farmers for prompt and timely repayment (PRI) of loans

  3. Interest Subvention Scheme (ISS) contd.. • Benefit of ISS extended to farmers in allied activities like Animal Husbandry and Fisheries • ISS of 2 percent and PRI of 3 percent also given on restructured crop loans to farmers affected by severe natural calamities for a maximum period of 5 years on the Report of Inter -Ministerial Central Team for grant of NDRF assistance and Sub-committee of Natural Executive Committee (SC-NEC)

  4. Credit Flow Data • Led to increase in Ground Level Credit (GLC) – from Rs 2.29 lakh crore in 2006-07 to Rs 12.55 lakh crore in 2018-19 and in the current year the achievement is Rs 374982 Crore (upto June 2019)

  5. Kisan Credit Card • Introduced in 1998 to provide timely credit to farmers • Implemented by Commercial Banks, Cooperative Banks and Rural Regional Banks • Currently 6.88 crore active KCCs against 14.5 crore operational land holdings • Farmers engaged in allied activities of Animal Husbandry and Fisheries now included in KCC

  6. KCC Saturation Drive • Action already initiated to address the Gap of 7.62 crore in KCC • Indian Bank’s Association (IBA) waived off processing fee, inspection, ledger folio charges and other service charges for fresh/renewal of KCC • RBI raised collateral free loan limit to Rs 1.60 lakh • Saturation Drive initiated to provide KCC to all eligible farmers – maximum timeline of 14 days for issue of KCC • Regular VCs being held by GoI with Chief Secretaries of State Govts and other officials • Monitoring of banks through joint meetings of Secretary (DAC&FW) and Secretary (DFS) • District Collector to monitor the implementation of activities during saturation drive camps in districts

  7. KCC Saturation Drive contd.. • SLBC to organise joint meetings of banks and State Govts - finalise strategy for KCC saturation drive • District Level Bankers Committee (DLBC) to identify districts with maximum gaps and fix targets • DLBC to organise bank-wise/village-wise camps to collect forms of eligible farmers in districts with gaps • State machinery (revenue dept) to facilitate completion of new application forms with the required documents

  8. State Wise KCC Saturation

  9. THANK YOU

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