TNAU Agritech Portal :: Banking & Credit

Banking & Credit :: State Bank of Hyderabad

4. Kisan Credit Card (KCC) Scheme

Objective: Kisan Credit Card (KCC) aims at adequate and timely support to the farmers for their short term crops production credit need, which is in a revolving cash credit nature.

Eligibility: All existing borrowers as well as new borrowers including illiterate borrowers.

Assessment of Credit Limit: To provide adequate credit needs of farmers for production of crops, credit requirements for allied agriculture operations and other production activities, the following procedure for sanctioning credit limits:

Production credit limit requirement.
Working Capital requirement for allied activities.
Ancillary credit requirement related to crop production.
Contingent needs (Branches can allow 10% of the outlay for contingent purposes).

Fixation of limit: Within the overall limit of the farmer under KCC Scheme seasonal limits may be fixed. A farmer can make any number of drawls and deposits within his drawing power.

Security, Margin and Discretionary powers: As applicable to Crop Loans.

Documentation: As applicable to agricultural advances. Documents to be obtained for the total limit including contingency limit, if any, fixed by the branch.

Renewal of Limits: Limit is valid for three years subject to annual review. In case of natural calamities the facility of re-phasement/ re-schedulement is also available to KCC accounts.

Personal Accident Insurance Scheme (PAIS) for KCC holders: All KCC holders up to the age of 70 years are covered under PAIS with a risk coverage of `50,000/-for death due to accident caused by outward violent and visible means/Permanent total disability/Loss of two limbs or two eyes or one limb and one eye and `25,000/- forLoss of one limb or one eye (Partial disability). Premium payable is ` 15/- per KCC holder annually and `45/- per KCC holder for 3 years. Premium payable will be shared by the KCC issuing bank and the KCC holders in the ratio of 2:1. KCC holder should give the Nominations.

Accident Insurance Scheme For KCC Holders

Persons covered: All KCC holders up to the age of 70 years

Risks covered

Obviously violent death: `50000
Permanent total disability: `50000
Loss of the two limbs or both eyes or one limb and one eye: `50000
Loss of one limb or one eye: `25000

Period of insurance: One year from the date of receipt of premium by the insurance company, where annual premium is paid and where 3-year premium is paid then covered for 3 years from the date of receipt of the premium.

Premium: A premium of `15/- per KCC holder annually and `45/- per KCC holder for 3 years and premium payable will be shared by the KCC issuing bank and the KCC holder in the ratio 2:1

For further details click here

Source: https://www.sbhyd.com