What is the News ?

The Finance Minister and Agriculture Minister are going to start the 'Kisan Rin Portal' on September 19.

Facts About:

• This portal assists farmers in obtaining reduced-rate loans through the Kisan Credit Card (KCC).
• Several government departments worked together to create it.
• It provides a clear picture of farmer information, loan distribution details, interest subsidy requests, and progress in scheme usage.
• It seamlessly connects with banks to enhance the accessibility and efficiency of agricultural credit.

Brief Overview About Kisan Credit Card (KCC):

• Introduced in 1998, the Kisan Credit Card (KCC) scheme provides farmers with a convenient way to access loans for buying agricultural supplies like seeds and fertilizers and for cash withdrawals.
• Developed by NABARD (the National Bank for Agriculture and Rural Development), the scheme was later expanded in 2004 to cover investment needs in farming and related activities.
• In 2012, the scheme was simplified to facilitate Electronic Kisan Credit Cards.
• Applicable to Commercial Banks, RRBs, Small Finance Banks, and Cooperatives.