Milestone of 1.5 crore KCC sanctions with credit limit of ₹ 1.35 lakh crore achieved under Special KCC Saturation Drive for farmers

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..... Milestone of 1.5 crore KCC sanctions with credit limit of ₹ 1.35 lakh crore achieved under Special KCC Saturation Drive for farmers - News and Press Release Dated:- 19-10-2020 - News - As part of the Atmanirbhar Bharat Package, the Government has announced to cover 2.5 crore farmers under the Kisan Credit Card (KCC) scheme with a credit boost of ₹ 2 lakh crore through a special satur .....

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..... ation drive. As a result of concerted and sustained efforts by the banks and other stakeholders in the direction of providing access to concessional credit by the farmers, including Fishermen and Dairy farmers, a major milestone target of covering more than 1.5 crore farmers under KCC, with sanctioned credit limit of ₹ 1.35 lakh crore has been achieved. The KCC Scheme was introduced in th .....

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..... e year 1998 with the objectives of providing adequate and timely credit to the farmers for their agricultural operation. The Government of India provides interest subvention of 2% and Prompt Repayment Incentive of 3% to the farmers, thus making the credit available at a very subsidized rate of 4% per annum. Government has taken a major farmer friendly steps by extending the benefits of KCC with in .....

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..... terest subvention in 2019 to Animal Husbandry including Dairy and Fisheries farmers for their working capital requirement and raising the existing limit of collateral free agriculture loan from ₹ 1 lakh to ₹ 1.60 lakh. While ensuring convenient and cost-effective credit delivery to farmers, the ongoing campaign will also be instrumental in driving the rural economy and further accel .....

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..... erating agricultural production and allied activities, besides enhancing the income level of farmers. This will also go a long way in fulfilling the objective of food security for our country. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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