Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to.....lakh rupees.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to____lakh rupees.

A	15 lakh rupees
B	10 lakh rupees
C	5 lakh rupees
D	3 lakh rupees

Explanation:

Detailed explanation-1: -Processing fee: KCC Limits up to Rs. 50, 000/-: NIL. Limits Rs. 50, 000/-to Rs.1.50 lakhs: Rs.200 + GST. Limits above Rs.1.50 lakhs to Rs.3.00 lakhs: Rs.250 per lakh or part thereof + GST.

Detailed explanation-2: -The Kisan Credit Card (KCC) scheme was introduced in 1998 for issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.

Detailed explanation-3: -The cornerstone of agriculture credit is the Scale of Finance (SoF) being fixed for every crop at the district level which forms the basis for determining the eligible credit for each crop and farmer. The limit for KCC is also decided based on the scale of finance, crop grown and area cultivated.

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