CURRENT AFFAIRS

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: -Farmers and farming collectives, such as landed cultivators, tenant farmers, oral lessee, agricultural labourers and self help groups, are eligible for KCC. 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: -In financial year 2021, over 11 million credit cards were issued under the Kisan Credit Card Scheme in the Indian state of Uttar Pradesh. It was followed by Maharashtra and Andhra Pradesh with 6.8 million and 6.6 million cards respectively.

Detailed explanation-4: -Security : For KCC limits upto Rs.1.60 Lakh : Hypothecation of Crops. For KCC limits upto Rs.3.00 Lakh (With tie up arrangement) : Hypothecation of Crops.

Detailed explanation-5: -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.