KCC: Fishermen & Farmers Can Avail Loans Upto Rs 3 Lakhs To Meet Their Working Capital Needs!

According to the government, the Kisan Credit Card (KCC) program in the fisheries sector will assist fishermen and farmers in meeting their working capital needs. According to a government release, the Department of Fisheries, which is part of the Ministry of Fisheries, Animal Husbandry, and Dairy, hosted a webinar on the statewide promotion for the Kisan Credit Card (KCC) in the fisheries industry.

Background & Diversification of Fisheries Sector

More than 400 people attended the program, which was presided over by Secretary of the Department of Fisheries (DoF) Jatindra Nath Swain. He emphasized the history and diversity of the fishing sector in his inaugural address.

He explained that the KCC facility in the fisheries industry is an attempt to assist fishermen and farmers with their working capital requirements. Its goal is to offer all farmers adequate and timely financial support.

Encourage & Expand Aquaculture and Fisheries In India

Swain asked state officers to monitor whether qualified fishermen and farmers are receiving full benefits from the KCC program on a regular basis. Also, if there are a bottleneck, contact the relevant banks to have it removed and the KCC approved as quickly as possible.

He stated that the campaign will run from November 15, 2021, to February 15, 2022. The department is working to encourage and expand aquaculture and fisheries in India, both inland and marine, according to Sagar Mehra, Joint Secretary (Inland Fisheries). As per the statement, the development of the KCC facility is intended to improve the quality of life for fishermen & Farmers.

An open debate hosted by Sagar Mehra with fishermen, farmers, state fisheries departments; banks, cooperative societies, entrepreneurs, students, and scientists followed the presentation.

The participants raised issues such as financial support for KCC, nodal arrangement for KCC, an online portal for KCC process, maximum interest on KCC related to fisheries, and other similar issues. All their queries were answered & clarified on the spot.

Benefits of KCC for Fishermen & Livestock Farmers:

• Under the scheme, instructions have been given to issue the KCC with a loan limit of up to Rs 1.60 lakh without any guarantor.

• Those desirous of availing KCC with a loan limit above this upto Rs 3 lakhs will have to provide guarantors who have had undisputed KCC transactions in the past and also have a financial standing.