Kisan Credit Card facility for working capital requirement to be extended to farmers in Animal Husbandry and Fisheries

New Delhi, Feb 5 (KNN) The Government of India has decided to extend the facilities of Kisan Credit Card (KCC) to Animal Husbandry farmers and Fisheries to help them meet their working capital requirements, said the Reserve Bank of India (RBI).

In order to extend the operational flexibility to farmers engaged in Animal Husbandry and Fisheries the Government of India had announced their decision to extend the facilities of KCC to these farmers in the Budget 2018-19.

RBI in a release said “In pursuance of the said budget announcement the matter has been examined, and in consultation with all stakeholders, it has been decided to extend the KCC facility for working capital requirement for activities related to Animal Husbandry and Fisheries.”

The KCC facility will meet the short term credit requirements of rearing of animals, birds, fish, shrimp, other aquatic organisms, capture of fish.

As per the guidelines, the scale of finance will be fixed by the District Level Technical Committee (DLTC) based on local cost worked out on the basis of per acre/per unit/per animal/per bird etc.

The working capital components in fisheries, under the scale of finance, may include recurring cost towards seed, feed, organic and inorganic fertilisers, lime/other soil conditioners, harvesting and marketing charges, fuel/electricity charges, labour, lease rent (if leased water area) etc.

For capture fisheries, working capital may include the cost of fuel, ice, labouring charges, mooring/landing charges etc. may form part of the scale of finance.

The working capital components in Animal Husbandry, under the scale of finance, may include recurring cost towards feeding, veterinary aid, labour, water and electricity supply.

The KCC scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for short term crop loans.