90 likes | 97 Vues
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
E N D
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 • 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
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)
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)
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
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
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