Over ₹10 lakh crore in loans have been provided under the Kisan Credit Card (KCC), benefiting 7.72 crore farmers. KCC offers timely and affordable credit for agricultural inputs.
The government provides a 1.5% interest subvention on short-term agricultural loans up to ₹3 lakh, reducing the interest rate to 7% per annum. Additionally, a 3% Prompt Repayment Incentive lowers the effective interest rate to 4% for timely repayments.
The total loan amount under KCC has more than doubled from ₹4.26 lakh crore in 2014 to over ₹10 lakh crore in December 2024.
