Kisan Credit Card Amount Crosses Rs 10 Lakh Crore

New Delhi: Showcasing credit deepening in agriculture and reduced dependency on non-institutional credit, the amount under operative Kisan Credit Card (KCC) accounts has more than doubled from Rs4.26 lakh crore in March 2014 to Rs10.05 lakh crore in December 2024, according to the latest government data.

As of December 31, a total of Rs10.05 lakh crore has been given under operative KCCs, benefitting 7.72 crore farmers. This indicates significant increase in quantum of affordable working capital loans provided to the farmers for agriculture and allied activities, said Ministry of Finance in a statement.

KCC is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilisers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities.

In 2019, the KCC scheme was extended to cover the working capital requirements of allied activities — Animal Husbandry, Dairy and Fisheries. The government, under the Modified Interest Subvention Scheme (MISS), provides interest subvention of 1.5 per cent to banks for providing short-term agri loans through KCC up to Rs3 lakh at a concessional interest rate of 7 per cent per annum.