State Bank of India, keeping in view the requirement of the farmers for ensuing Kharif season, has launched a special Kisan Credit Card (KCC) renewal campaign for their customers in both Madhya Pradesh and Chhattisgarh States.
Rajesh Kumar, Chief General Manager, State Bank of India, has informed that on timely repayment and renewal of KCC loans farmers become eligible for benefit of interest subvention provided by the Government as well as for insurance coverage of their crops under Pradhan Mantri Fasal Bima Yojna.
Timely renewal makes farmers eligible for an automatic increase of 10% in their KCC loan limits. State Bank of India has also decided to give necessary working capital requirements of farmer-borrowers for dairy, fishery, poultry and other allied agriculture activities also in the form of Kisan Credit Card.
Cheque book and ATM facilities are also issued in the KCC accounts to the farmers for their convenience. Bank usually provides fresh disbursement of KCC to the prompt paying farmers on the same day of the repayment.
Rajesh Kumar further informed that farmers’ eligibility will not be affected for benefit under debt waiver schemes of Government of Madhya Pradesh and Chhattisgarh, if they renew the crop loans now.
Therefore, it is in the interest of the farmers to renew the KCC accounts and avail fresh loans to get all above benefits available under the scheme and also meet expenditure of their kharif crops.
