The Haryana government created the Pashu Kisan Credit Card (PKCC) Strategy to give loans to farmers who raise cattle. To qualify for the loan, animal owners must have a Kisan Credit Card. The first Indian state to implement this scheme is Haryana. In Bhiwani, Haryana, 101 persons initially received PKCC. The government wants to have distributed 10 lakh cards by March 2021 and in the next years, there will be a rise in the number of farmers using credit cards. The government has received a commitment from the Bankers Committee that all qualified applicants will have access to the Kisan Credit Card Scheme. To learn more about the Pashu Kisan Credit Card, including its highlights, objectives, features, benefits, eligibility requirements, application procedures, and more, read on.
Pashu Kisan Credit Card
The Pashu Kisan Credit Card was launched by the Indian government to assist all farmers who raise animals. This card will boost the nation’s animal husbandry industry and enable farmers to make more money. The Reserve Bank of India (RBI) has made the decision to expand the PKCC services to meet the working capital needs for a number of operations relating to animal husbandry and fisheries. The day the animal husbandry receives the first instalment is when interest will start to accrue on the loan provided under this plan. Under this programme, a maximum of Rs 3 lakhs may be used to rear cows, buffalo, sheep, goats, and chickens. Haryana’s state government has previously passed a tough ordinance protecting cows. In this instance, there is no requirement to offer a guarantee for an amount up to Rs. 1.60 lakh.
Key Highlights of Pashu Kisan Credit Card
|Launched By||Indian government|
|Name of Scheme||Pashu Kisan Credit Card|
|Objective||To boost cattle farmers’ incomes|
|Benefits||Unsecured credit access up to $1.60|
|Eligibility Criteria||Candidate must be a Haryana resident|
Objective of Pashu Kisan Credit Card
The following is a list of the Program’s primary goals:
- To assist farmers that work in the agribusiness of animal husbandry
- Aid them in nationalising their firm and growing it
- To boost cattle farmers’ incomes by 2022
Benefits of Pashu Kisan Credit Card
- This programme provides unsecured credit access up to $1.60.
- The PKCC programme assists those involved in agriculture with post-harvest costs.
Note- It should be noted that borrowers who borrow more than Rs. 3 lakh would be required to pay 12% interest. Additionally, in order to collect the subsequent amount, they must pay the interest amount within a year. One of the Government of India’s most innovative and promising programmes that focuses on farmers and livestock development is this programme. Banks should offer to distribute the loan money so that the impact of unauthorised credit access is lessened.
Features of Pashu Kisan Credit Card
- Loan amount: A maximum loan of Rs. 3 lakh is available to livestock owners. The cow receives $40,783, each buffalo receives $60,249, and the goats and sheep each receive $40,63 under this plan. Additionally, the PKCC programme offers 720 for chicks (for laying eggs). Additionally, no guarantee is necessary for loans up to 1.6 lakh.
- Instalment pattern– This programme offers loans to farmers who raise cattle in 6 equal instalments.
- Interest rate– Banks and other financial organisations often charge 7% interest on loans. Owners of animals must, however, pay a 4% interest fee under this plan.
- Rebate: The Central Government may offer a 3% rebate to cattle owners.
- Repayment Schedule: This programme has a 5-year repayment period, which means livestock owners must pay back the loan amount plus any applicable interest throughout that period.
Small Ruminants and Poultry
Producers of chickens (individual or joint borrower) Joint Liability Groups and Self-Help Groups are created by tenant farmers who own, lease, or rent sheds and raise goats, sheep, poultry, pigs, rabbits, and birds.
Self-Help Businesses producers of fish (individual, partners, groups, tenant farmers, and sharecroppers) Joint Liability Groups for Women’s Organisations.
Self-Help Businesses Farmers of fish from a women’s organisation (individual, partners, groups, tenant farmers, and sharecroppers) Joint Liability Groups.
Groups of dairy farmers with joint liability, milk producers (individual or joint borrower) Groups for self-help (tenant farmers who rent out their own or leased sheds)
The Haryana Government has established eligibility requirements for candidates who wish to apply for the PKCC. The following are the requirements for PKCC eligibility.
- The candidate must be a Haryana resident with full legal citizenship.
- Must be an owners of Kisan Credit Cards
- Those from the lower socioeconomic classes may apply for this programme.
The applicants will need to provide a few crucial papers when completing the scheme application; be sure to have them on available. The following documents are necessary for PKCC:
- Address Proof
- Land documents
- Bank Account
- Animal health certificate
- Passport size photograph
- Aadhaar card
- PAN card
- Voter ID
- Mobile Number
Application Procedure for Pashu Kisan Credit Card in Offline Mode
The actions listed below must be followed by applicants in order to apply for the programme:
- First, visit the closest bank of your area.
- Obtain an application for a Pashu Kisan credit card from the relevant bank department.
- Now, complete the form with all the necessary information.
- After that, include the application form together with all necessary documents.
- Check the application form now to resure the details which you filled are correct..
- Within one month of KYC verification, candidates will receive the animal credit card.
Application Procedure for Online Registration under Pashu Kisan Credit Card
- You can get a Kisan credit card at any nationalised bank. Visit the website of any nationalised bank as a result.
- Select the Kisan Credit Card from the webpage, then click “Apply.”
- Fill out the Pashu Kisan Credit Card application on the next page. Then click “Submit.”
- A reference for your application will be sent.
Note: If your application is approved, you will hear from the relevant bank in 3–4 business days.
Pashu Kisan Credit Card Loan Amount
|Animal Name||Loan Amount|
|Sheep, Goat||Rs- 4063|
If you need to know more about the Pashu Kisan Credit Card Scheme, then contact the concerned bank employ about the scheme.