What is PM Kisan Samman Nidhi Yojana?

The PM Kisan Saman Nidhi Yojana was officially launched on February 24, 2019. This scheme aims to cover approximately 12 crore farmers across the country. The government periodically publishes the list of beneficiaries who can avail of benefits through PM Kisan Yojana. This list is published on the official website of the scheme and one can find the list published for 2021.

A large percentage of the Indian population is involved in agriculture and related activities. Keeping this in mind, the government has taken this initiative to ensure the wellbeing of the farmers. The scheme is funded by the Central Government of India and it operates with the aim of providing financial assistance to the country’s farmer families. Under this scheme, the government sets aside Rs. 6,000 annually in three instalments. This amount is deposited in the accounts of the eligible farmers. 

Additional Reading: Complete Details of the Pradhan Mantri Kisan Samman Nidhi Scheme 

What are the Benefits of PM Kisan Samman Nidhi?

The PM Kisan Yojana provides financial assistance to eligible farmers. Under this scheme, the following benefits are offered to the beneficiaries:

  1. Financial support: The scheme offers Rs. 6,000 per beneficiary in a financial year. The amount is disbursed in three instalments of Rs. 2,000 each in intervals of 4 months.
  2. Easy access to money: The Government directly transfers the amount to the beneficiary farmer’s account. The farmers can withdraw the amount easily from their accounts.
  3. Pension facility: Under this scheme, the farmers must add an amount of Rs. 55 up to a maximum of Rs. 200 in a pension fund till they reach the age of 60. The Government contributes the same amount to the pension fund. Once the beneficiaries attain 60 years of age, they can receive a pension of Rs. 3,000.
  4. Credit card loan: The PM Kisan Saman Nidhi Yojana also offers Kisan credit card loan at very low interest rates. This can help the farmers in case of any financial emergencies.

What are the Eligibility Criteria for the PM Kisan Scheme?

There are certain eligibility criteria laid out by the government for potential beneficiaries under PM Kisan Samman Nidhi Yojana. Listed here are some of the important criteria:

  • The applicant should be a farmer of an Indian state.
  • Applicant’s age must be between 18 years to 40 years.
  • Applicants should not have ownership of any institutional land.
  • Only tax assessees in the latest assessment year are considered for this scheme.
  • The farmer applicant or member of his/her family must not be working or not have worked at a constitutional position previously.
  • Farmer cannot be or have been a minister, a member of Rajya Sabha, a member of Lok Sabha, a member of State Legislative Assembly, a Corporation Mayor or Chairperson at District Panchayat.
  • The farmer must not be a present employee or retired employee in any Central PSE, State PSE, associate offices or autonomous organizations funded by the Government.
  • The farmer should not be Retired or superannuated pensioners with a monthly pension equivalent to or more than Rs. 10,000
  • Applicants must not be a professional doctor, lawyer, or architect. Engineer or chartered accountant.

Check out the benefits of Pradhan Mantri Kisan Maan Dhan Yojana. 

What are the Steps to Register for PM Kisan Samman Nidhi?

To register under this scheme, a farmer can visit the local Patwari, a Revenue or Nodal Officer appointed by the respective State Government. Applicants can even do online registration by visiting the official website of the PM Kisan Yojna. 

Here are the steps to get registered under the scheme:

  • Go to the official website of PM Kisan Yojana.
  • On the home page, one can see the Farmers Corner on the right-hand side.
  • Click on New Farmer Registration under this section.
  • To verify first time registration, users must enter their Aadhar Number
  • Enter the Image Code as shown and click on Search.
  • Once the database does the scanning and registration is not found, the screen will display a confirmation message and ask the user to register
  • On the registration form, enter all personal details and banking details as required. Before saving, verify the information entered.

What are the Documents Required to Apply for PM-Kisan Yojana?

The following documents are required while registering under the PM Kisan Saman Nidhi Yojana:

  • Proof of identity (Aadhaar Card or Voter ID card)
  • Proof of residence
  • PAN Card
  • Birth Certificate
  • Details of bank account
  • Photocopy of account passbook
  • Photograph (in passport size)

How to Get a Credit Card Under PM Kisan Yojana?

All beneficiaries of PM Kisan Yojana are eligible for Kisan Credit Card. The main objective of this credit card is to provide easy loans to farmers with affordable interest rates. Credit card loans also offer flexible terms that are convenient for farmers.

Here are some of the main features of this credit card:

  • Low-interest loans
  • Maximum Rs. 16 Lakhs of loans can be availed without any requirement of security and Rs. 3 Lakhs worth of loans can be availed with security.
  • The loan has in-built crop insurance.

A farmer can register for the PM Kisan Yojana credit card by registering through the scheme’s official website online. 

Additional Reading: How to apply for a Kisan credit card from a bank. 

EndNote

PM Kisan Yojana provides finance and credit card loan facility to eligible farmers through an easy application and documentation process.

FAQs

  1. How can I get a PM Kisan Credit Card?

You can get a PM Kisan credit card if you are eligible for it. The application can be made online on the preferred bank’s website or the official website of PM Kisan Yojana.

  1. What is the validity period of the Kisan Credit Card?

The Kisan credit card is valid for 5 years. The tenure depends on the type of activity that the money is used for.

  1. How do I check my KCC account balance?

To check the KCC account balance, you can reach out to the customer service centre of the public sector bank from which you avail the Kisan Credit Card. Alternatively, you can also visit the bank's branch for checking the balance in your account.

  1. What is a Kisan Credit Card Loan?

Kisan Credit Card loan is a government-backed scheme that aims to offer farmers easy loans at low interest rates. The interest rate can be as low as 2.00%. This ensures that the farmers do not fall into debt traps while engaging in farming activities for a livelihood.

  1. What is the age requirement for a PM Kisan Yojana Credit Card?

PM Kisan Yojana credit card can be availed by applicants with a minimum age of 18 years and a maximum age of 75 years. For senior citizens, it is mandatory to have a co-borrower while applying and the co-borrower should also be a legal heir.