UP Farmers to Receive Instant Loans in 10-15 Mins through Kisan Credit Card Under Agri Stack Scheme

Recently, Uttar Pradesh Chief Minister Yogi Adityanath initiated an interesting pilot project in Farrukhabad. This initiative not only marks a significant development for the district but also sets an example for the entire nation. Under the Agri Stack scheme, farmers in Farrukhabad will now have access to instant loan facilities through their Kisan Credit Cards within an unprecedented timeframe of 10 to 15 minutes.

Chief Minister Yogi Adityanath, amidst the inauguration of several developmental projects in Farrukhabad, unveiled this pilot project which aims to transform agricultural financing. This initiative is part of the government's mission to empower farmers and provide them with timely financial assistance. Also, Farrukhabad is the first district in the country to introduce this innovative loan facility through the Kisan Credit Card system.

This initiative will change the process of obtaining agricultural loans by allowing farmers to access funds within minutes without the need to visit a bank. The pilot project in Farrukhabad is just the beginning, as plans are underway to extend this instant loan facility to farmers across the entire state of Uttar Pradesh shortly.

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Under the Agri Stack scheme, the government is utilizing technology to undergo the loan application process for farmers. Through the PM Kisan Saturation Drive, farmer registries are being prepared, enabling e-KYC through a mobile app. This drive aims to verify land ownership and obtain consent for e-KYC and Aadhaar authentication. Each village has been assigned a team comprising an accountant and an employee from the Agriculture Department to complete this process.

Farrukhabad, with its 5 lakh farmers, has already made progress in this regard. Accountants have verified land records for approximately 2.5 lakh farmers, while technical assistants from the Agriculture Department have obtained e-KYC and consent from 1 lakh 90 thousand farmers. This data will form the basis for providing instant loan facilities through the Kisan Credit Card system.

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The implementation of this initiative has been made possible by the Jan Samarth portal developed by the Government of India. This portal integrates 13 credit-linked Government schemes, including the Kisan Credit Card scheme, onto a single platform. It ensures seamless access to these schemes for beneficiaries and stakeholders, simplifying the application and approval processes.

The introduction of instant loan facilities through Kisan Credit Cards is set to ease the financial burden on farmers and speed up agricultural development in Uttar Pradesh. By leveraging technology and innovative schemes like Agri Stack, the government aims to provide timely assistance to farmers and enhance their overall well-being.

With Farrukhabad leading the way, farmers across Uttar Pradesh can look forward to a future where accessing credit is no longer a slow process but a quick and efficient one, empowering them to excel in their agricultural tasks. Under the visionary leadership of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, this initiative is poised to transform the lives of farmers.

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