2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2.5 crore
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1.5 crore
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3.5 crore
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0.5 crore
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Detailed explanation-1: -A Special Drive has been undertaken by the Department for providing all dairy farmers of Milk Cooperatives and Milk Producer Companies with Kisan Credit Cards (KCC). Under the dairy cooperative movement, approximately 1.5 crore farmers are associated with 230 Milk Unions in the country.
Detailed explanation-2: -As of 2022, there are over 73 million operational KCC cards, the Union Minister of State for Finance told the Lok Sabha April 4, 2022.
Detailed explanation-3: -The short-term loan limit arrived for the 5th year plus the estimated long-term loan requirement will be the Maximum Permissible Limit (MPL) and is to be treated as the Kisan Credit Card limit. Short-term loans and term loans are governed by different interest rates.
Detailed explanation-4: -12.2 Security requirement may be as under : Hypothecation of crops: For KCC limit upto ₹ 1.00 lakh banks are to waive margin/security requirements. With tie-up for recovery: Banks may consider sanctioning loans on hypothecation of crops up to card limit of ₹ 3.00 lakh without insisting on collateral security.