Warangal: Narsampet MP Peddi Sudharshan Reddy said on Wednesday that the Kisan credit card program would provide financial support to farmers, fishermen, dairy farmers, sheep and goat ranchers, and urged them to use the program .
The MP was speaking during a program to issue identity cards to 2,500 people, which will make it easier for them to obtain Kisan credit cards from banks in the Narsampet mini-stadium in the district.
Speaking on the occasion, he said that the KCC program aims to provide adequate and timely credit support from the banking system as one-stop-shop for farmers for their cultivation and other needs. âAll farmers, including sharecroppers and members of SHGs or Joint Farmer Responsibility Groups, are eligible for KCCs. The KCC serves as a debit card for farmers. With KCCs, farmers can get loans of Rs 25,000 to Rs 1.60 lakh at an interest rate of only 7%. More than 50 percent of the interest rate, or 4 percent, will be paid by the government to the bankers. However, farmers who have taken out a crop loan against agricultural land cannot obtain the KCCs, âhe added.
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âThe KCC card holder will also benefit from life insurance coverage up to Rs two lakh. This KCC card is a boon for financially poor farmers, âhe said.
MLA also issued bank liaison checks to members of self-help groups (SHGs) issued by Canara Bank under another program. The total value of the loan given to members is Rs 8.10 crore at SHG 81 from five villages in Narsampet Mandal.
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