BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 11 lakh crore
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Rs. 13 lakh crore
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Rs. 15 lakh crore
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Rs. 17 lakh crore
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Detailed explanation-1: -For instance, credit worth Rs 11.68 lakh crore was given to farmers in 2017-18, much higher than the Rs 10 lakh crore target set for that year.
Detailed explanation-2: -The agricultural credit target is ₹18 lakh crore for the current 2022-23 fiscal.
Detailed explanation-3: -It could be noted that in the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced to enhance the allocation to the RIDF to Rs 40, 000 crore from Rs 30, 000 crore.
Detailed explanation-4: -It aims to provide short-term crop loans up to ₹3 lakh to farmers at an interest rate of 7% per annum. Lending institutions – PSBs and private sector commercial banks offer interest subvention of 2 % by the government. The policy came into force with effect from 2006-07.