Pashu Kisan Credit Card is a credit facility offered to farmers engaged in animal husbandry. Read on to learn more about the features, benefits, eligibility criteria, and Pashu Kisan Credit Card application process.
Introduction
Pashu Kisan Credit Card is a credit facility that is specially designed for farmers engaged in animal husbandry. This scheme was launched by the Government of India in 1998 to provide credit support to farmers for the purchase of various inputs such as fodder, feed, medicines, insurance, and other related expenses.
Features of Pashu Kisan Credit Card:
- Credit Limit: The credit limit under the Pashu Kisan Credit Card scheme ranges from Rs.10,000 to Rs.2 lakhs, depending on the borrower’s requirements and the bank’s discretion.
- Interest Rate: The interest rate for Pashu Kisan Credit Card is generally lower than other agricultural credit schemes, making it more affordable for farmers.
- Repayment Period: The repayment period for Pashu Kisan Credit Card ranges from one year to five years, depending on the borrower’s repayment capacity and the bank’s discretion.
- Flexibility in Withdrawals: The borrower can withdraw money per their requirements, unlike other credit facilities where the entire loan amount is disbursed at once.
Eligibility Criteria:
- The applicant must engage in animal husbandry-related activities, including rearing cattle, buffalo, sheep, goats, and pigs.
- The applicant should have a good track record of repayment of previous loans.
- The applicant should have valid identity proof, address proof, and other necessary documents per the bank’s requirement.
Application Process:
- The applicant can approach any bank branch that offers Pashu Kisan Credit Card and submit the required documents.
- The bank will evaluate the application and decide on the loan amount and interest rate.
- Once the loan is sanctioned, the borrower can withdraw the amount per their requirements.
Frequently Asked Questions:
Q. Can I use Pashu Kisan Credit Card for other agricultural purposes besides animal husbandry-related activities?
No, Pashu Kisan Credit Card is only for farmers engaged in animal husbandry-related activities.
Q. What is the interest rate for Pashu Kisan Credit Card?
The interest rate for Pashu Kisan Credit Card varies from bank to bank, but it is generally lower than other agricultural credit schemes.
Q. What is the repayment period for Pashu Kisan Credit Card?
The repayment period for Pashu Kisan Credit Card ranges from one year to five years.
Conclusion
Pashu Kisan Credit Card is a beneficial credit facility for farmers engaged in animal husbandry. It provides credit support for various inputs required for animal husbandry, including fodder, feed, medicines, and insurance. The interest rate for Pashu Kisan Credit Card is generally lower than other agricultural credit schemes, making it affordable for farmers. The eligibility criteria are straightforward, and the application process is simple. Farmers can approach any bank branch offering Pashu Kisan Credit Card and apply for it.