Q63. Consider the following statement about The Kisan Credit Card.
1. It is implemented by Cooperative Banks only.
2. Its components are term credit and consumption loans
3. It mitigates the vulnerability of farmers to middlemen.
Which of the above statement(s) is/are correct?
Q63. Consider the following statement about The Kisan Credit Card.
1. It is implemented by Cooperative Banks only.
2. Its components are term credit and consumption loans
3. It mitigates the vulnerability of farmers to middlemen.
Which of the above statement(s) is/are correct?
The correct option is B (b) Only 2 and 3
The Kisan Credit Card Scheme is in operation throughout the country and is implemented by Commercial Banks, Cooperative Banks and Regional Rural Banks. The Scheme has facilitated in augmenting credit flow for agricultural activities.
The Kisan Credit Card scheme is implemented by public sector commercial banks, RRBs and cooperative banks. It was launched to provides short term loans in the form of production credit. However, later its scope was extended to term loans for agriculture and allied activities and reasonable component for consumption loan. The KCC Scheme has since been simplified and converted into ATM enabled debit card with, inter alia, facilities of one-time documentation, built-in cost escalation in the limit, any number of withdrawals within the limit, etc., which eliminates the need for disbursement through camps and mitigates the vulnerability of farmers to middlemen.
(b) Only 2 and 3
The Kisan Credit Card Scheme is in operation throughout the country and is implemented by Commercial Banks, Cooperative Banks and Regional Rural Banks. The Scheme has facilitated in augmenting credit flow for agricultural activities.
The Kisan Credit Card scheme is implemented by public sector commercial banks, RRBs and cooperative banks. It was launched to provides short term loans in the form of production credit. However, later its scope was extended to term loans for agriculture and allied activities and reasonable component for consumption loan. The KCC Scheme has since been simplified and converted into ATM enabled debit card with, inter alia, facilities of one-time documentation, built-in cost escalation in the limit, any number of withdrawals within the limit, etc., which eliminates the need for disbursement through camps and mitigates the vulnerability of farmers to middlemen.
