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KCC loans: Govt to spend Rs 20,000 cr on KCC loans, says Union agriculture minister

The government will spend approximately Rs 20,000 crore on KCC (Kisan Credit Card) loans, said Union agriculture minister Narendra Singh Tomar during the launch of Kisan Rin Portal and Ghar Ghar KCC Abhiyan on Tuesday.

The Centre will be re-launching KCC initiatives to provide loans upto Rs 3 lakh. The minister also stated that nearly Rs 1.41 lakh crore has been disbursed against premium of Rs 29,000 crore under PM Fasal Bima Yojana, reported ET Now.

The event was attended by Union finance and corporate affairs minister, Nirmala Sitharaman as well. Union ministers of state for agriculture and farmers’ welfare, Sushri Shobha Karandlaje and Shri Kailash Chaudhary, were also present on the occasion.

The ‘Kisan Rin Portal’ has been launched to help farmers avail subsidised loans under the Kisan Credit Card (KCC). A door-to-door KCC campaign and a manual of the Weather Information Network Data Systems (WINDS) portal has also been launched.

According to the agriculture ministry, the Kisan Rin digital platform offers a comprehensive view of farmer data, loan disbursement specifics, interest subvention claims, and scheme utilisation progress, fostering seamless integration with banks for more focused and efficient agriculture credit.

There are about 7.35 crore KCC accounts as of March 30 with a total sanctioned limit of Rs 8.85 lakh crore, it said in a statement.As per the official data, the government has disbursed agri-credit of Rs 6,573.50 crore at subsidised interest rate during April-August this fiscal.To extend the benefits of KCC, the door-to-door campaign will reach non-KCC holders of beneficiaries of the central scheme PM-KISAN, under which Rs 6,000 per annum is given to each identified beneficiary farmer’s bank account.

In the case of the WIND portal, the ministry said the manual extends the impact of the Weather Information Network Data Systems (WINDS) initiative.

The portal — launched in July — leverages advanced weather data analytics to provide stakeholders with actionable insights on weather for informed decision-making in agriculture.

This comprehensive manual also provides stakeholders with an in-depth understanding of the portal’s functionalities, data interpretation, and effective utilisation, empowering farmers, policymakers and various agricultural entities to make well-informed choices.

It also caters to the parametric crop insurance scheme of the ministry, in addition to non-scheme parametric insurance programmes for crop risk mitigation and disaster risk reduction and mitigation being run by the insurance industry, the statement said.

(With inputs from PTI)

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