There is a primary agricultural cooperative society in my village. Can I take KCC from them, and is it different from a bank KCC?
2 Answers
You can get a KCC from several types of lenders, not just commercial banks. Primary Agricultural Credit Societies and the cooperative bank network issue KCC, and so do Regional Rural Banks and commercial banks. For many villages the cooperative society is the easiest because it is local and knows your land. The interest subvention and prompt repayment benefit on crop loans up to the ceiling are designed to flow through cooperatives too, so a cooperative KCC can also reach the cheap effective rate for timely repayers. Differences to check are the limit they can sanction, how quickly they process, and their own membership rules, since you usually need to be a member of the society. Compare the cooperative with a nearby bank on rate, limit and service before choosing, and ask each whether the subvention is being passed on. Terms vary by society and state, so confirm locally.
Maine apne gaon ki society se hi KCC liya, sabse aasan tha kyunki sab jaante hain. Member banna pada pehle. Sasta byaaj wahan bhi mila samay par chukane par.