Govt sanctions 1.22 crore Kisan credit cards with Rs 102,065 crore limit

at 6:07 pm

New Delhi (NVI): The government has sanctioned 1.22 crore Kisan Credit Cards (KCCs) with credit limit of Rs 1,02,065 crore as on August 17, to help farmers meet financial requirements during the COVID-19 crisis, the Ministry of Finance said today.

“In an effort to buffer the agricultural sector from the shock of COVID-19, a special saturation drive is underway to provide concessional credit to farmers through Kisan Credit Card. As on 17.08.2020, 1.22 crore KCCs have been sanctioned with credit limit of Rs 1,02,065 crore,” the ministry said in a statement.

The ministry added this will go a long way in reviving the rural economy and accelerating agricultural growth.

Notably, under the Aatma Nirbhar Bharat Package, the government had announced provision of a concessional credit of Rs 2 lakh crore which is likely to benefit 2.5 crore farmers, including fishermen and dairy farmers.

On May 15, Finance Minister Nirmala Sitharaman had announced to cover 2.5 crore new farmers under the KCC scheme and this will provide an additional liquidity of Rs 5 lakh crore to farmers, who are suffering from the recent downturn of economy.

However, this reflects an increase of Rs 12,255 crore, over Rs 89,810 crore sanctioned to 1.1 crore KCC holders as on July 24.