Pashu kisan Credit Card Yojana :- The Indian Government has introduced several schemes for the welfare of farmers and their families. One such scheme is the Pashu Kisan Credit Card (PKCC) scheme, which aims to provide financial assistance to farmers for the purchase of various inputs related to animal husbandry. In this article, we will discuss the features, benefits, and eligibility criteria of the PKCC scheme.
What is the Pashu Kisan Credit Card Scheme:-The Pashu Kisan Credit Card scheme is a government-sponsored initiative launched in 2020. The objective of this scheme is to provide affordable credit to farmers involved in animal husbandry activities. The PKCC scheme is an extension of the Kisan Credit Card (KCC) scheme, which provides credit to farmers for agricultural activities.
Benefits of Pashu Kisan Credit Card Scheme :-
If a cattleman has a cow, he can take a loan up to Rs 40783. While Pashu Kisan Credit Card can be used for the loan of 40783 rupees for a cow, the loan will be given to the cattleman in 6 equal installments every month on the basis of financial scale from the bank i.e. 6797 per month. If for some reason the farmer is not able to get the credit for a month, he can also take the credit of the previous month for the next month.
In this way, in 6 months, the total amount of Rs 40783 will now be returned with a 4% annual interest within a gap of 1 year. This amount will have to be returned within one year with a 4% annual interest. The time interval for the cardholder to return the 1-year amount will start from the same day he receives the first installment.
Features of the Pashu Kisan Credit Card Scheme :-
- The PKCC scheme offers various features that make it an attractive proposition for farmers involved in animal husbandry activities. Here are some of the notable features of the scheme:
- Credit limit: The credit limit for the PKCC scheme is based on the borrower’s credit history and repayment capacity. The loan amount can range from Rs. 10,000 to Rs. 1,60,000.
- Interest rate: The interest rate for the PKCC scheme is 4% per annum, which is significantly lower than the prevailing market rates.
- Repayment tenure: The repayment tenure for the PKCC scheme ranges from one year to five years.
- Insurance cover: The PKCC scheme provides insurance cover for animals owned by the borrower. The insurance cover is for a period of three years and covers the animal’s death due to natural causes or accidental death.
- Online application: Farmers can apply for the PKCC scheme online through the government’s portal.
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