BANKING AFFAIRS

Detailed explanation-1: -The State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) have joined hands for an initiative to provide collateral free credit to certain categories of farmers in Telangana.

Detailed explanation-2: -Kisan Credit Card. GoI introduced Kisan Credit Card Scheme during 1998-99 to meet the production credit requirement of farmers in a timely and hassle-free manner.

Detailed explanation-3: -Apart from extending refinance support of 100% to the financing Banks, NABARD also extends financial support for awareness creation and capacity building of all stakeholders under the Scheme. NABARD also extends grant support for formation and nurturing of JLGs to Banks and other JLG Promoting Institutions (JLGPIs).

Detailed explanation-4: -Soft Loan Assistance for Margin Money (SLAMM) The scheme is to provide financial assistance to prospective entrepreneurs who have the requisite talent and skill of entrepreneurship but lack necessary monetary resources to meet the margin requirements stipulated under relevant refinance schemes of NABARD.

Detailed explanation-5: -NABARD-National Bank For Agriculture And Rural Development. The Government of India encourages farmers in taking up projects in select areas by subsidizing a portion of the total project cost. All these projects aim at enhancing capital investment, sustained income flow and employment areas of national importance.