Is it true that the Kisan Credit card (KCC), and Personal Accident Insurance Scheme (PAIS) are some other schemes introduced by the Government of India for the benefit of the farmers?

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Detailed Solution

The above statement is true.
Kisan Credit card (KCC) and Personal Accident Insurance Scheme (PAIS) are some other schemes introduced by the Government of India for the benefit of the farmers.
In 1998, the Kisan Credit Card (KCC) system was developed to provide Kisan Credit Cards to farmers based on their holdings for uniform acceptance by banks so that farmers could easily purchase agriculture inputs such as seeds, fertilisers, and pesticides and draw cash for their production needs. Farmers who have a Kisan Credit Card are eligible for personal accident insurance. Personal accident protection of Rs. 50,000 is provided to Kisan Credit Card holders in the case of death or permanent incapacity. The government provides farmers with up to 3 lakh low-interest loans under the Kisan Credit Card programme. This loan comes with a low-interest rate of about 4%.

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