Virtual Kisan Credit Card: After securing a third consecutive victory, Prime Minister Narendra Modi is set to visit Varanasi, his parliamentary constituency, on June 18. This visit, his first since becoming Prime Minister for the third term, will focus on the welfare of farmers. During this visit, PM Modi will introduce several schemes aimed at enhancing the livelihood of farmers, including the launch of virtual Kisan Credit Cards (KCC). Additionally, he will distribute the benefits of ongoing schemes to the beneficiaries.
PM Modi to Release 17th Installment of PM Kisan Samman Nidhi
In a significant move, PM Modi will communicate directly with farmers and deposit the next installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) into their accounts. The Kisan Digital Credit Card, which will be launched on June 18, will enable farmers to access KCC funds without visiting banks. The Prime Minister will address the farmers at the Kisan Sammelan in Mehndiganj during this event.
The 17th installment of Rs 2,000 will be deposited directly into the accounts of millions of farmers across the country via Direct Benefit Transfer (DBT). Since its inception in 2019, the PM-KISAN scheme has benefited 2,74,615 farmers in Varanasi alone. Under this scheme, farmers receive Rs 6,000 annually in financial assistance, distributed in three installments of Rs 2,000 each.
Benefits of the Kisan Credit Card (KCC)
The Kisan Credit Card (KCC) scheme offers a multitude of benefits, catering to the diverse financial needs of farmers. Here are some key benefits of the KCC program:
1. Comprehensive Credit for Agricultural Activities
The KCC program provides credit for a wide range of agricultural activities, including post-harvest expenses and the purchase of essential farm equipment like pumps and cattle. This ensures that farmers have access to sufficient funds for their operations.
2. Loan Availability
Farmers can avail loans of up to Rs 3 lakh under the KCC scheme, ensuring adequate financial support for their agricultural activities. This financial backing is crucial for maintaining and expanding their farming operations.
3. Insurance Coverage
The scheme includes insurance coverage of up to Rs 50,000 for permanent disability or death. This provision offers a safety net for farmers and their families, ensuring financial security in case of unforeseen circumstances.
4. Debit Card and Savings Account
Eligible farmers will receive a debit card and a savings bank account, simplifying financial transactions. This feature enhances the ease of accessing funds and managing financial activities.
5. Flexible Repayment Options
The KCC program offers flexible repayment options, which can be completed after the harvesting season. This flexibility allows farmers to repay their loans without financial strain.
6. Assistance for Purchasing Fertilizers and Pesticides
Farmers can benefit from financial assistance to purchase fertilizers and pesticides. Additionally, the program offers cash discounts from merchants, reducing the overall cost of these essential inputs.
7. Long-Term Financial Support
Credit under the KCC program is accessible for up to three years, providing consistent financial support. This long-term assistance ensures that farmers have a reliable source of funds for their ongoing agricultural needs.
Also Read: Udyam Kranti Yojana: Empowering Youth for a Prosperous Future
Conclusion
Prime Minister Narendra Modi’s visit to Varanasi on June 18 marks a significant event dedicated to the welfare of farmers. The launch of the virtual Kisan Credit Card and the distribution of the 17th installment of the PM-KISAN scheme highlight the government’s commitment to supporting the agricultural community. The KCC program, with its comprehensive benefits, is poised to provide substantial financial assistance to farmers, empowering them to enhance their productivity and secure their livelihoods.
