BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Long Term Irrigation Fund
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Long Term Irrigation Funding
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Long Term Investment Fund
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Long Timing Irrigation Fund
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Detailed explanation-1: -Long Term Irrigation Fund (LTIF) was announced in the Union Budget 2016–17 for fast tracking completion of 99 identified Medium and Major Irrigation projects, as identified by MoJS, GoI. The projects were spread across 18 States.
Detailed explanation-2: -Loan assistance under the fund shall be for a period of upto 15 years with a moratorium period of 03 years. The loan to NWDA would be repaid in quarterly instalments while State Governments would repay loan in annual instalments. Interest would be payable at quarterly intervals.
Detailed explanation-3: -A Micro Irrigation Fund of initial corpus Rs 5000 crore has been created with NABARD. In the Budget Announcement for 2021-22, the corpus of the fund is to be increased to Rs. 10000 crores.
Detailed explanation-4: -Micro Irrigation Fund was set up in order to achieve the goal of ‘per drop more crop’. The fund has been set up under NABARD, which will provide this amount to states on concessional rate of interest in order to promote micro-irrigation.