Abstract
Agriculture is the spine of the Indian economy, with approximately 70% of the population of the country continuing to depend on it either directly or indirectly for their living. One of the major challenges confronting Indian banks has been the development of an all-encompassing system for timely and sufficient agricultural-rural credit disbursement. Agriculturalists extensively rely on non-institutional or unorganized sources of credit as a result of regular needs, insufficient availability of institutional credit, unnecessary delays, incommodious procedures, red-tapism, and inappropriate practices adopted by the lending agencies. Realizing the dominant role of the agriculture sector, rural credit requirements, and for reducing the dependence of farmers on unorganized sources of credit, the Kisan Credit Card (KCC) scheme was started by the Government of India in consultation with the NABARD and RBI in 1998 as a path-breaking credit distribution mechanism to provide adequate, timely, cost-effective and hassle-free credit support to farmers. In this conceptual paper, an attempt has been made to briefly explore the implications of the Kisan Credit Card system among small farmers in India.
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