The Ministry of Finance on Thursday said that it has sanctioned 1.22 crore Kisan Credit Cards (KCC) with a credit limit of Rs 102,065 crore, with an aim to give a buffer to the agricultural sector suffering due to the pandemic.
“In an effort to buffer the agricultural sector from the shock of COVID-19, a special saturation drive is underway to provide concessional credit to farmers through Kisan Credit Card (KCC). As on 17.08.2020, 1.22 crore KCCs have been sanctioned with credit limit of Rs. 1,02,065 crore,” the ministry said in a statement, adding that the facility will go a long way in reviving the rural economy and accelerating agricultural growth.
This reflects an increase of Rs 12,255 crore, over Rs 89,810 crore sanctioned to 1.1 crore KCC holders as on July 24.
It may be recalled that as part of the Aatmanirbhar Bharat package, the government had announced the provision of concessional credit of Rs 2 lakh crore which is likely to benefit 2.5 crore farmers, including fishermen and dairy farmers.