Krishi VaartaKrishi Jaagran
Good News KCC Holders! Avail 10% of Money for Household Needs under Kisan Credit Card Scheme
The Kisan Credit Card scheme does not only provide help to farmers financially but a part of it can also be used to meet their household needs._x000D_ How Kisan Credit Card Scheme is Helping Farmers?_x000D_ KCC can actually help you in meeting some of your urgent domestic expenses at your time of need. Though, the KCC scheme which provides credit to farmers for small loans is primarily meant for meeting their financial requirements related to crops. But, its some part can be used by them to meet domestic needs._x000D_ How KCC can help Farmers in domestic needs?_x000D_ One can utilize the 10 percent of the short term limit under the KCC scheme for household consumption purposes. The Reserve Bank of India or RBI has put information on its website with regards to this under its Financial Education (for Farmers) section._x000D_ The motive of Kisan Credit Card scheme is to enable farmers to meet their crop loan requirements. The RBI advises farmers to not utilise large amounts for meeting your household expenses as this could limit a farmer's ability to generate income & repay the loan. Timely payments of KCC loans enable farmers to get more benefits on future loans._x000D_ _x000D_ Source: krishi jagran, 5 may 2020_x000D_ _x000D_ If you find this information is useful to you, like it and share it with your farmer friends._x000D_
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