New Delhi: The Economic Survey highlights that as of March 2024, the country has 7.75 crore operational Kisan Credit Card (KCC) accounts with a loan outstanding of ₹9.81 lakh crore. As of 31 March 2024, 1.24 lakh KCC and 44.40 lakh KCC were issued to fisheries and animal husbandry activities, respectively.
Starting from FY25, the claim processing under Modified Interest Subvention Scheme (MISS) has been digitised through the Kisan Rin Portal (KRP) for faster and more efficient capturing and settlement of MISS claims.
By 31 December 2024, over 1 lakh crore claims have been processed. About 5.9 crore farmers that are currently getting benefitted under the MISS-KCC scheme, have been mapped through KRP.
To further support small and marginal farmers, banks must allocate 40 per cent of their Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher, to priority sectors, including agriculture.
All the above measures have significantly reduced the reliance on non-institutional credit sources from 90 per cent in 1950 to around 25.0 per cent in FY22.
Ground-level credit (GLC) to agriculture has also shown impressive growth with a CAGR of 12.98 per cent from 2014-15 to 2024-25. The GLC has risen from ₹8.45 lakh crore in 2014-15 to ₹25.48 lakh crore in 2023-24.
Within this, the share of small and marginal farmers has significantly increased from ₹3.46 lakh crore (41 per cent) to ₹14.39 lakh crore (57 per cent) from 2014-15 to 2023-24.