Pashu Kisan Credit Card- Benefits, Guidelines & Eligibility

Pashu Kisan Credit Card is a prestigious farmer-friendly scheme by the Haryana state government. The scheme allows subsidised loans for the farmers who are eligible for this card. Eligible people with these cards will get loans issued which will help them buy new animals for their farms.

Scheme Overview

• Scheme Name: Pashu Kisan Credit Card
• Scheme Modified: October 2022
• Scheme Fund Allocated: Up to INR 3 Lakhs
• Type of Government Scheme: State Government of Haryana
• Sponsored / Sector Scheme: Department of Animal Husbandry
• Website to apply: NA
• Helpline No.: NA

Features of Pashu Kisan Credit Card

The Indian government has launched a new credit card for animal husbandry farmers. This will help the farmers earn more and provide them with extra resources. This Pashu Kisan Credit Card is issued in collaboration with the RBI to help animal husbandry farmers and those in the fisheries sector. Haryana is the first state to implement this scheme and has issued loans for several eligible farmers.

Benefits of Pashu Kisan Credit Card

• The Pashu Kisan Credit Card will be issued only to the residents of Haryana.
• This will benefit those with financial troubles and backward people.

• The loan amount is set for each type of animal and will be issued on a per-animal basis.
• The beneficiaries must provide a guarantee for loans over INR 1.6 lakhs but none if the loan amount is within this limit.
• Under the Pashu Kisan Credit Card scheme, the interest rate for the loan will only be 4%. The government is giving you a rebate of 3 % on interest.
• The farmers can repay the amount in six equal instalments over a period of five years.

Drawbacks of Pashu Kisan Credit Card

• As of now, the Pashu Kisan Credit Card is issued from the bank after the submission of a physical application. This could be refined for a better digital application mode and make a more time-saving procedure.
• The scheme is highly beneficial for the users, but the loan repayment should be extended from the 5 years period to up to 7 years, similar to that of other schemes. This will help the burden on the farmer to repay the amount and can repay it in smaller instalments as well.
• In addition, the scheme was initiated aiming to increase the income of the farmers, but having subsidised loans will not be sufficient to attain the goal.

• Those applying for the fisheries sector must already own a fishing boat or other vessels to be eligible for this scheme. They must also have permission for fishing in the sea or other areas before applying for this card.
• For loan amounts of more than 3 lakhs, the interest rate will be as per the RBI regulations. The subsidised interest rate is applicable only up to INR 3 lakhs.

Pashu Kisan Credit Card-How to apply?

The Pashu Kisan Credit card application is done through offline channels, directly through the banks.  

• Step 1: To get a Pashu Kisan credit card, you will need to first visit a bank.
• Step 2: Request a Pashu Kisan Credit Card application form, fill it and submit the form along with all the necessary documents and the required copies as mentioned in the next section.
• Step 3: Once the application is approved, you will need to submit your KYC documents.
• Step 4: The bank will approve the card based on the financial scale of the project and work.
• Step 5: The credit card will be issued after assessment and approval.

Documents Required

Send the required documents to the bank: 

• Application form for the Pashu Kisan Credit Card
• Your land documents
• Health certificate for your animal
• Passport-size photographs
• Aadhaar card
• PAN card
• Voter ID
• Bank account number

Conclusion

The Pashu Kisan Credit Card will help the farmers find easy solutions for their financial needs to buy a new member of their animal farm. You just need to apply through the proper channels.  

Note: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. Pesticides are a considerable risk of loss in crops and viewers are advised to do their own research before making any decisions.