BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Credit facility for crops etc. against an approved limit
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Short term credit facility against value of his crops
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Long term credit is provided against his land holdings
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Loan is permissible against crops sold but payment yet to be received by the farmer
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Detailed explanation-1: -Farmers can take out a loan of up to Rs.3 lakh and also avail produce marketing loans. Insurance coverage for KCC scheme holders up to Rs.50, 000 in the case of permanent disability or death. A cover of Rs.25, 000 is given in the case of other risks.
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: -Farmers – individual/joint borrowers who are owner cultivators; Tenant farmers, oral lessees & share croppers; Self Help Groups (SHGs) or Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers etc.
Detailed explanation-4: -NABARD IN NEWS The KCC is available at all Indian banks, regional rural banks and the co-operative banks. The KCC scheme has short-term credit limits for crops and term loans.
Detailed explanation-5: -The correct answer is Indian Bank. Indian Bank has introduced a Kisan credit card loan scheme for fishermen in Tamil Nadu. Under this scheme, Kisan credit card loans of up to ₹2 lakh as working capital with a low-interest rate will be provided.