Do you know about Pashu Kisan Credit Card Scheme? Can farmers get interest free loans?

What is Pashu Kisan Credit Card?

The Pashu Kisan Credit Card (PKCC) scheme is a government initiative in India aimed at providing financial support to livestock farmers. While it doesn't offer interest-free loans, it does provide credit facilities to farmers at subsidized interest rates. Here's how the scheme generally works. Watch   more at.

1. Credit Card for Livestock Farmers: The Pashu Kisan Credit Card serves as a credit facility specifically designed for livestock farmers, including those who rear cattle, poultry, and other livestock.
2. Credit Limit: Under this scheme, eligible farmers are provided with a credit limit based on the number and type of animals they own, the cost of maintenance, and other related factors. The credit limit can be used for various purposes, such as purchasing feed, medicines, or investing in animal husbandry activities.

3. Interest Subvention: While the loans obtained through PKCC are not interest-free, the government often provides interest subvention (subsidy) to reduce the effective interest rate paid by the farmers. The actual interest rate may vary from one financial institution to another.

4. Repayment: Farmers are required to repay the borrowed amount within a specified period, often based on the income generated from their livestock or in easy installments. Repayment terms can be flexible and may vary depending on the farmer's financial situation.

5. Insurance Coverage: Some versions of the PKCC scheme also include insurance coverage for the livestock, offering protection in case of disease outbreaks, accidents, or other unforeseen events.

6. Documentation: Farmers need to submit necessary documents and meet eligibility criteria, which can vary by state and financial institution.

7. Please note that government schemes and policies can change over time, and new initiatives may have been introduced since my last update in September 2021. I recommend checking with your local agricultural authorities or financial institutions for the most current information on the Pashu Kisan Credit Card Scheme or any other related programs that may have been introduced since then.