The Union Finance Ministry on Tuesday said that the amount under operative Kisan Credit Card crossed Rs.10 lakh crore in December 2024, compared to Rs. 4.26 lakh crore in March 2014.

This reflects a considerable increase in the quantum of affordable working capital loans given to farmers for agriculture and related activities.

What is a Kisan Credit Card?

Kisan Credit Card provides affordable credit to farmers for purchasing agricultural inputs like seeds, pesticides, and fertilisers and meeting cash needs for crop production and allied activities.

In 2019, the Kisan Credit Card scheme was expanded to include the working capital needs of allied activities like animal husbandry, dairy, and fishing.

The government, under the Modified Interest Subvention Scheme (MISS), provides banks with a 1.5% interest subvention for offering short-term agri loans through Kisan Credit Card up to Rs. 3 lakh at 7% concessional interest per annum.