BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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minor irrigation purposes like wells, dug-cum-bore wells, tubewells, pump sets and irrigation tanks
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mechanisation of agriculture i.e., loans for purposes of tractors, power tillers, threshers, etc
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land reclamation, soil conservation, plantation of fruit orchards, dairy development schemes etc involving heavy expenditure
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Detailed explanation-1: -Land development bank provides long-term funds for various agriculture related projects besides development of land and business. The borrowing capacity of a member is generally determined according to the number of shares he holds in the bank.
Detailed explanation-2: -B. NABARD provides long-term refinance to the following institutions to supplement their resources for providing adequate credit for supporting investment activities of farmers and rural artisans, etc. The activities cover both farm sector as well as off-farm sector activities.
Detailed explanation-3: -Land development banks provide long term loans to farmers. These banks provide loans for a period of 15-20 years at a low rate of interest for land reform.
Detailed explanation-4: -Long term credit: Farmers also require finance for a long period of more than 5 years just for the purpose of buying additional land or for making any permanent improvement on land like the sinking of wells, reclamation of land, horticulture etc.
Detailed explanation-5: -State Bank of India As the leading public sector bank in India, SBI offers a wide array of agri loans. With over 16, 000 branches spread across the country, SBI offers various loans to meet the needs of farmers in India.