Wednesday, October 19, 2016

Revised Kisan Credit Card (KCC) Scheme

Besides the mandatory crop insurance the KCC holder should have the option to take benefit of any type of asset insurance accident insurance including PAIS, and health insurance ( wherever product is available) and have premium paid through his KCC account. Premium has to be bourne by the farmer/ Bank according to the terms of the scheme. Farmer beneficiaries must be made aware of the insurance cover available and their consent (except in case of crop insurance where it is mandatory)is to be obtained at the application stage itself.
Based on RBI master circular dated 13/10/16. For any further clarification, please refer