The Kisan Credit Card scheme was initially introduced in 1998 with the purpose to provide funds to farmers who were unable to fulfill their agricultural financing needs.

The recent announcement made by the RBI further mentioned that the farmers will be receiving a subsidy on the interest rate on Kisan credit card loans, making the advances further affordable for the agricultural sector.

 Ever since the announcement took place, top financial institutions started introducing attractive benefits to make it easier for poor farmers to avail funds. Also, the smooth application procedure and limited document requirements allow them to easily opt for this scheme.