• Notification Date: 26-02-2025
• Notification No: N/A

Kisan Credit Card Crosses Rs.10 Lakh Crore Mark, Helping Over 7.7 Crore Farmers

The Finance Ministry recently announced big news about the Kisan Credit Card (KCC) scheme. Outstanding against continuing KCC accounts rose to over ?10.05 lakh crore as of December 2024 from ?4.26 lakh crore during March 2014. Record growth is the result of the increased availability of credit to farmers, enabling crores of farmers across the country.

The Kisan Credit Card facility was launched to offer institutional credit easily to farmers, lowering dependence on more expensive non-institutional sources such as moneylenders. Up to December 2024, loans of ?10.05 lakh crore were distributed to more than 7.72 crore farmers.

This is an enormous step towards institutional farm financial systems, which is good for farmers' income, enhances productivity, and results in overall rural economic prosperity in India. With more farmers opting into the KCC scheme, this experiment in financial inclusion will keep upending the landscape of agriculture by giving more farmers instant access to cheap credit for farming purposes.