CURRENT AFFAIRS

Detailed explanation-1: -3. The pilot will commence in September 2022 in select districts of Madhya Pradesh and Tamil Nadu with Union Bank of India and Federal Bank, respectively, as partner banks and with active cooperation of the state governments.

Detailed explanation-2: -Harda, Madhya Pradesh - September 19, 2022: Union Bank of India today, announced an Industry-first, farmer-focused end-to-end digitalization of Kisan Credit Card product as part of flagship Digital Transformation project ‘Sambhav’.

Detailed explanation-3: -NABARD IN NEWS In a bid to provide term loan for agricultural needs of the farmers, Indian banks introduced Kisan Credit Card (KCC) scheme in August 1998. The model of KCC scheme was prepared by NABARD (National Bank for Agriculture and Rural Development) that met the recommendations of RV Gupta Committee.

Detailed explanation-4: -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-5: -The correct answer is Indian Bank.