The Pradhan Mantri Kisan Credit Card (KCC) scheme has now been extended to livestock farmers. Under this scheme, livestock farmers will get a loan of up to Rs 3 lakh at 7% interest. There will be a 3% discount on interest rate on timely payment, which will make the effective rate 4%.

Loan Yojana: The Government of India is running many important schemes to empower the farmers and livestock farmers of the country. Farmers are already getting the benefit of a 'Kisan Credit Card' to cover the expenses related to farming . Now the central government has expanded this scheme and implemented it for the animal husbandry sector as well. Through this, financial assistance is also being provided to livestock farmers so that they can increase their income and become self-reliant.

Status of KCthe C Scheme in Madhya Pradesh

The Madhya Pradesh government has set a target to empower cattle rearers through Kisan Credit Card (KCC) for their benefit. The target is to distribute 6 lakh 4 thousand 411 KCC cards in the state, out of which 4 lakh 76 thousand cards have been distributed so far. Chief Minister Dr. Mohan Yadav, while posting on the social media platform 'X', has called it an unprecedented step of Prime Minister Narendra Modi's Atmanirbhar Bharat Yojana.

How much loan amount can I get?

Under this scheme, animal husbandry farmers can be provided a loan of up to Rs 3 lakh for activities like cow, buffalo, sheep, goat, pig, and poultry farming. In this, animal husbandry farmers can get a loan of up to Rs 1.60 lakh without any guarantee, which will prove helpful in covering the expenses necessary for their livelihood. This amount is provided without any collateral security, so that even small and marginal animal husbandry farmers can easily avail it.

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Interest will be available at 7%

Under the Kisan Credit Card Scheme, loans are provided to livestock farmers at an interest rate of 7%. The government also provides additional discounts in interest rates to beneficiaries who repay the loan on time. An incentive of 3% per annum is given for timely repayment of loan amount up to Rs 2 lakh, which makes the effective interest rate 4%. This incentive motivates livestock farmers to make timely payments and helps in reducing their financial burden.

How to apply for Kisan Credit Card?

• To avail the benefits of this scheme, eligible livestock farmers will have to contact their nearest bank.
• Aadhar card, identity card, proof of animal husbandry and other required documents have to be submitted.
• After checking the application by the bank, Kisan Credit Card will be issued to the livestock owner.

Who can apply?

The following conditions must be met to avail the benefits of this scheme:

• The applicant must be a recognized livestock farmer.
• The name of the animal keeper must be in the animal husbandry list of the respective state.
• The livestock owner will have to contact the bank and submit the prescribed documents.