Jammu, Feb 13 : The Government of Jammu & Kashmir has clarified that there is presently no proposal under consideration for waiver of Kisan Credit Card (KCC) loans.
Replying to a question tabled by Dr. Devinder Kumar Manyal, Hon’ble MLA, regarding waiver of KCC loans in view of damages caused to the agriculture and horticulture sectors due to recent floods and National Highway blockade, as per news agency Kashmir News Corner — KNC, the Agriculture Production Department stated that no such waiver is being contemplated.
The government informed the House that the Kisan Credit Card (KCC) scheme is a flagship credit programme of the Government of India (GoI), aimed at providing timely and affordable institutional credit to farmers for agriculture and allied activities. The scheme is implemented through designated banking institutions and is not a financial scheme of the Government of Jammu & Kashmir.
The department further clarified that crop loans under KCC are provided at concessional interest rates, along with interest subvention benefits for prompt repayment, as per GoI norms. The credit facility operates as a revolving cash credit limit, enabling farmers to meet cultivation and working capital requirements in a flexible manner.
It was reiterated that any decision regarding loan waiver under the KCC scheme falls within the purview of the Government of India, and not the UT Government.
The Government stated that the scheme continues to ensure adequate and timely credit flow to farmers, promote financial inclusion, and strengthen the agricultural economy across the country. — (KNC)
