ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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FCS
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ACA
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FCB
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FFA
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Detailed explanation-1: -How the Farm Credit System (FCS) Works. The FCS consists of 72 independent and customer-owned financial institutions.
Detailed explanation-2: -Financial Claims Scheme | APRA.
Detailed explanation-3: -Roosevelt in 1933 placed all existing agricultural credit organizations under the supervision of a new agency, the Farm Credit Administration (FCA). FCA was independent until 1939, when it became part of the U.S. Department of Agriculture (USDA), but became an independent agency again under the Farm Credit Act of 1953.
Detailed explanation-4: -Roosevelt issued an executive order on March 27, 1933, establishing the Farm Credit Administration (FCA). The agency extended vital relief to debt-ridden farmers throughout the country by refinancing farm mortgages and offering credit under favorable terms.
Detailed explanation-5: -Considering the period and purpose of the credit requirement of the farmers of the country, agricultural credit in India can be classified into three major types, namely, short term, medium term and long term credit.