Stories
How Kisan Credit Card Rescued Agra Farmer Ratan Singh From Financial Crisis
N
News18•13-10-2026, 14:19
How Kisan Credit Card Rescued Agra Farmer Ratan Singh From Financial Crisis
- •Ratan Singh from Ladamda village in Agra used the Kisan Credit Card scheme to overcome severe crop damage losses from last year.
- •He secured a loan at a low interest rate of about 4 percent without dealing with any middlemen.
- •The timely financial aid helped him purchase seeds, fertilizers, and manage irrigation expenses smoothly.
- •Farmer leader Mohan Singh Chahar noted that the scheme provides timely assistance for agriculture and small businesses.
- •The loan limit under the Kisan Credit Card scheme has now been raised to five lakh rupees.
Key Questions Answered
The loan limit under the Kisan Credit Card scheme has been raised to five lakh rupees. Farmers involved in agriculture, animal husbandry, and fisheries can take loans up to this maximum limit.
The standard interest rate for short-term agricultural loans under the KCC scheme is 7 percent. However, farmers who repay their loans on time receive a 3 percent incentive or subsidy from the government, reducing the effective interest rate to about 4 percent.
Under the Kisan Credit Card scheme, the limit for collateral-free loans is two lakh rupees. This allows farmers to receive financial assistance directly into their bank accounts without needing to mortgage property or assets for this amount.
