The Pashu Kisan Credit Card Scheme is an initiative by the Central Government of India aimed at providing subsidized loans to livestock farmers. Through this program, farmers involved in animal husbandry and fish farming can access loans at highly reduced interest rates, helping them expand their farming activities and enhance their livelihoods. Here’s an in-depth look at the Pashu Kisan Credit Card scheme, its benefits, and how to apply.
Overview of the Pashu Kisan Credit Card Scheme
The Pashu Kisan Credit Card Scheme offers financial assistance to farmers involved in:
- Dairy farming (cows, buffaloes)
- Poultry (chicken)
- Sheep and goat rearing
- Fish and shrimp farming
Farmers can use this card to secure working capital from banks at minimal interest rates for their farming needs. Notably, loans of up to Rs. 3 lakh are provided under this scheme, with no collateral required for loans up to Rs. 1.6 lakh. The scheme offers a financial lifeline to small-scale farmers, enabling them to expand operations without the burden of high-interest debts.
Key Features of the Pashu Kisan Credit Card Scheme
1. Low Interest Rates
- Loans are provided at an interest rate of 4%, significantly lower than the standard rates.
- Farmers receive a 3% subsidy on interest, reducing the financial burden.
2. Loan Tenure
- The loan can be repaid over a five-year period, making it manageable for farmers to repay without distress.
3. No Collateral for Loans Under Rs. 1.6 Lakh
- Farmers do not need to pledge land or assets as collateral for loans up to Rs. 1.6 lakh, making the scheme accessible to more people.
4. Debit Card Functionality
- The Pashu Kisan Credit Card also functions as a debit card, allowing farmers to withdraw funds as needed.
Loan Amounts Available for Different Livestock
- Cow: Rs. 40,783
- Buffalo: Rs. 60,249
- Sheep/Goat: Rs. 4,063
- Chicken: Rs. 720
The government provides varying loan amounts based on the type of livestock to ensure farmers can adequately support their operations.
Breakdown of Government Loan Assistance
The scheme offers structured financial assistance depending on the type of livestock:
- Buffalo: Rs. 60,000
- Cow: Rs. 40,000
- Chicken: Rs. 720
- Sheep/Goat: Rs. 4,000
Farmers receive loans in six installments, allowing them to manage their resources more effectively throughout the loan tenure.
Eligibility for the Pashu Kisan Credit Card Scheme
To be eligible for the Pashu Kisan Credit Card, farmers must fall into one of the following categories:
- Dairy Farmers: Those involved in cow or buffalo farming.
- Poultry Farmers: Individuals rearing chickens, sheep, goats, or pigs.
- Fish Farmers: Those engaged in inland and marine fisheries, aquaculture, or hatcheries.
- Tenant Farmers: Farmers who rent or lease sheds for livestock rearing.
Additionally, farmers must hold the necessary licenses and permits for their respective farming activities.
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Step-by-Step Guide to Apply for the Pashu Kisan Credit Card
Farmers who wish to avail themselves of the benefits of the Pashu Kisan Credit Card Scheme can follow the steps below:
Step 1: Visit the Nearest Bank
- The applicant should go to the nearest participating bank or financial institution.
Step 2: Obtain the Pashu Kisan Credit Card Application
- Request the application form from the bank for the Pashu Kisan Credit Card.
Step 3: Fill in the Application Form
- Complete the application form with accurate personal and farm-related details.
Step 4: Submit the Application
- Submit the filled-in application form at the bank, along with the necessary KYC (Know Your Customer) documents.
Step 5: KYC Verification
- Ensure you provide all required documents for KYC and verification of details.
Step 6: Await Processing
- Once the application and documents are verified, if eligible, the credit card will be issued within 15 to 30 days.
Step 7: Option to Apply via CSC Centers
- If you are unable to visit the bank in person, you can submit the application online through a Common Service Center (CSC).
Documents Required for the Pashu Kisan Credit Card Application
Applicants need to submit the following documents:
- Aadhaar Card, PAN Card, or Voter ID Card
- Mobile Number
- Passport size photograph
- Bank account details
- Cattle Health Certificate
- Insurance certificate for livestock
- Proof of Indian residency
Special Considerations for Different Farming Sectors
1. Inland Fisheries & Aquaculture
- Farmers must hold licenses for the activities they are engaged in, such as pond, tank, or hatchery farming.
2. Marine Fisheries
- Fishermen need the proper fishing permits and licenses for boat, estuary, or sea fishing.
3. Poultry & Small Ruminant Farming
- Farmers must have the necessary infrastructure for rearing livestock, whether owned, rented, or leased.
4. Dairy Farming
- Dairy farmers should have sufficient facilities for maintaining their cows and buffaloes and may apply jointly through Self Help Groups (SHGs).
Conclusion
The Pashu Kisan Credit Card Scheme is a significant initiative for farmers involved in animal husbandry and fish farming. With its low-interest loans and flexible repayment options, this scheme empowers farmers to expand their businesses without the financial strain of traditional loans. By simplifying access to credit, the government is fostering sustainable growth in the livestock farming sector.
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