Full formBanking & Finance
KCCstands forKisan Credit Card
Full Form of KCC
What is KCC?
The Kisan Credit Card (KCC) is a specialized credit instrument designed to provide timely and adequate credit support to farmers in India for their agricultural and allied activities. Introduced in 1998 on the recommendation of the N. G. K. Murthy Committee and implemented through NABARD, the KCC scheme aims to meet the short-term, medium-term, and long-term credit needs of farmers at reasonable interest rates. It covers expenses related to crop production, purchase of machinery, maintenance of farm assets, and even post-harvest storage. Farmers can use the card to withdraw cash through ATMs, purchase inputs from dealers, and avail of insurance coverage. The scheme is operational across all states through commercial banks, regional rural banks, and cooperative banks. In recent years, the government has expanded KCC to cover fisheries, animal husbandry, and dairy farmers. For exam aspirants, understanding KCC is important for banking and agriculture sections in competitive exams like IBPS, RBI Grade B, and UPSC.
KCC का फुल फॉर्म
किसान क्रेडिट कार्ड
Example
After receiving my Kisan Credit Card, I was able to buy seeds and fertilizers without relying on local moneylenders.
KCC — frequently asked questions
What is the full form of KCC?
KCC stands for Kisan Credit Card, a credit instrument introduced by NABARD to provide short-term and long-term loans to farmers in India.
Who is eligible for a Kisan Credit Card?
All farmers – including tenant farmers, sharecroppers, and oral lessees – engaged in agriculture, animal husbandry, dairy, fisheries, or other allied activities are eligible.
What is the interest rate on KCC loans?
The interest rate for KCC loans is typically around 7% to 9% per annum, with an additional 3% interest subvention (prompt repayment incentive) from the government, reducing the effective rate to 4%.