Launched in 1998 by the Government of India, the Kisan Credit Card scheme aims to provide short-term formal credit to farmers. This scheme especially focuses on farmers engaged in animal husbandry, fisheries, agriculture, etc.
Through Kisan Credit Cards, farmers are provided with a credit limit which they can use to purchase equipment and cover other expenses. The Kisan Credit Card Yojana is implemented by NABARD (the National Bank for Agriculture and Rural Development).
The main objectives of this scheme are to -
- Meet short-term credit needs for crop cultivation.
- Cover post-harvest expenses.
- Meet the consumption demand of the farmer’s household.
- Ensure marketing loan.
- Offer working capital for maintaining farm assets and activities related to allied sectors including dairy animals, floriculture, horticulture, and inland fisheries.
- Fund investment credit requirement for agriculture and allied sectors for purchasing pump sets, sprayers, dairy animals, etc.
- Give short-term credit facility for rearing birds, fishes, shrimps, and other aquatic animals.