Kisan Credit Card (KCC) Fisheries Scheme

The Kisan Credit Card (KCC) Fisheries scheme provides credit cards to fish farmers for their short-term needs, like buying feed or fingerlings. New cardholders can get up to Rs. 2 lakhs with interest subvention, while existing KCC holders can get an increased limit of Rs. 3 lakhs.

GS Paper – 2 Government Policies & Interventions Welfare Schemes GS Paper – 3 Inclusive GrowthDirect & Indirect Farm Subsidies Mobilisation of Resources}

For Prelims: Kisan Credit Card, NABARD,Banking System, Agriculture, Government Schemes

For Mains: Kisan Credit Card, Government Policies for Agriculture, Role of Agriculture in Indian Economy, Challenges to Inclusive Growth

Table of Contents

Context:

The Department of Fisheries inaugurated the integration of the KCC Fisheries scheme onto the JanSamarth Portal.
It aims to revolutionise access to credit facilities for fishers, fish farmers, and other stakeholders across the nation.

Kisan Credit Cards Fisheries Scheme:

The Government of India, in the year 2018-19, extended Kisan Credit Cards (KCC) facility to fisheries and animal husbandry farmers to help them meet their working capital requirements.
Implemented by: Ministry of Fisheries, Animal Husbandry, and Dairying.

Benefits under the scheme:

For the existing KCC holders, the benefits of interest subvention and prompt repayment incentive will be admissible up to the credit limit of Rs. 3 lakhs including fisheries activities. In the case of new cardholders, the credit limit is Rs. 2 lakhs to meet their working capital requirements for fisheries activities.
In the KCC scheme, @7% is the lending rate to farmers including @2% interest subvention per annum by the Government of India. Also, another @3% per annum is provided in case of prompt repayment as an additional incentive as per the existing guidelines.
This implies that the farmers repaying promptly as above would get a loan @ 4% per annum effectively for loan amount up to Rs 2 lakhs.

JanSamarth Portal:

Launched by the Ministry of Finance, it serves as a comprehensive platform linking over a dozen government credit schemes.
It facilitates a direct connection between beneficiaries and lenders for loan application and processing under multiple Credit-Linked Government Schemes.
The portal covers 14 schemes under 4 loan categories: education, agricultural infrastructure, business activity, and livelihood.
Beneficiaries can digitally check eligibility, apply online, and receive digital approval before applying for a loan.

Benefits of Integration of KCC Fisheries Scheme with Portal:

Seamless Access: Fishers and fish farmers can now easily apply for their KCC loans and manage their loan accounts online.
Efficiency: Streamlined processes and digitised workflows enhance efficiency.
Transparency: The system ensures transparency in loan management services.
Inclusivity: The initiative promotes inclusive growth within the fisheries industry.

UPSC Civil Services Exam, Previous Year Questions (PYQ)

Q.1 Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes?

Working capital for maintenance of farm assets
Purchase of combine harvesters, tractors and mini trucks
Consumption requirements of farm households
Post-harvest expenses
Construction of family house and setting up of village cold storage facility

Select the correct answer using the code given below:

(a) 1, 2 and 5 only
(b) 1, 3 and 4 only
(c) 2, 3, 4 and 5 only
(d) 1, 2, 3, 4 and 5

Ans: (b)

Source: (PIB)

FAQs on Kisan Credit Card (KCC) Fisheries Scheme

1. What is the KCC Fisheries Scheme?

The KCC Fisheries Scheme is a program in India that provides short-term loans to fish farmers under the Kisan Credit Card (KCC) scheme. This credit helps with various fisheries-related expenses.

2. What can I use the KCC Fisheries Scheme loan for?

The loan can be used for various purposes, including:

Working capital for maintenance of fish ponds, equipment, and other fishery assets.
Purchase of fish seed, feed, and medicines.
Post-harvest expenses like transportation and storage.

3. Who is eligible for the KCC Fisheries Scheme?

Fish farmers in India can apply for the KCC Fisheries Scheme. Specific eligibility requirements might vary depending on the bank or region, so it’s best to check with your local bank for details.

4. What are the benefits of the KCC Fisheries Scheme?

The KCC Fisheries Scheme offers several benefits to fish farmers, including:

Access to timely and affordable credit.
Flexible repayment options.
Can improve fishery productivity and income.

5. How do I apply for the KCC Fisheries Scheme?

You can apply for the KCC Fisheries Scheme by contacting your local bank that offers KCC loans. The bank will guide you through the application process and documents required.

In case you still have your doubts, contact us on 9811333901.

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Kisan Credit Card (KCC) Fisheries Scheme – UPSC