CURRENT AFFAIRS

Detailed explanation-1: -Bank of Baroda launches agriculture investment credit scheme in Rajasthan.

Detailed explanation-2: -The Reserve Bank of India (RBI) set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium-term and long-term agricultural credit to support investment credit needs for agricultural development.

Detailed explanation-3: -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-4: -NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.

Detailed explanation-5: -Agricultural Credit is the amount of investment funds made available for agricultural production from resources outside the farm sector.