IBA advisory for banks to waive off processing, documentation, inspection, other service charges for KCC

Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans upto three lakhs rupees.

Agriculture Ministry in a release said, there are over 21 crore small and marginal farmers  in the country and providing them timely and affordable credit is the key to attaining inclusive growth. 

The Ministry observed, the small and Marginal farmers are the most affected during times of floods, droughts, and other natural calamities.

The Kisan Credit Card Scheme aims at providing adequate and timely credit support from the banking system to the farmers to meet the short term credit requirements for cultivation of crops, investment credit requirements for agriculture and allied activities and other needs.