Kisan Credit Card Scheme in India Quiz
12 Questions
6 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary objective of the KCC scheme?

  • Facilitate tax collection from agricultural income
  • Ensure timely and institutional credit flow to farmers (correct)
  • Encourage migration from rural to urban areas
  • Offer financial assistance for non-agricultural purposes

    • What type of loans does KCC provide for setting up facilities?

  • Short-term loans for crop cultivation
  • Medium-term loans for purchasing seeds
  • Long-term loans for setting up cold storage facilities (correct)
  • Emergency loans for natural disasters

    • Why is lack of awareness among beneficiaries considered a challenge of the KCC scheme?

  • Due to excessive interest rates
  • Because banks are too easily accessible in urban areas
  • Because the scheme is too simple to understand
  • As it hinders farmers from accessing necessary credit facilities (correct)

    • Which of the following is NOT a challenge associated with the KCC scheme?

    <p>Easy access to banks in remote areas</p> Signup and view all the answers

    How can the effectiveness of the KCC scheme be improved according to the text?

    <p>Conducting financial literacy campaigns for farmers</p> Signup and view all the answers

    Which purpose does KCC NOT provide loans for according to the text?

    <p>Weddings and social events for farmers</p> Signup and view all the answers

    What is the primary focus of the Kisan Credit Card Scheme?

    <p>Agricultural working capital and farm expenses</p> Signup and view all the answers

    Which of the following is a benefit of KCC for farmers?

    <p>Long-term financing for infrastructure development</p> Signup and view all the answers

    Who are the key institutions involved in the KCC Scheme?

    <p>Commercial Banks, Cooperative Banks, and RRBs</p> Signup and view all the answers

    What is the validity period of a Kisan Credit Card?

    <p>3 years (subject to renewal)</p> Signup and view all the answers

    Which statement about KCC is correct?

    <p><strong>Both statements are correct</strong></p> Signup and view all the answers

    What type of insurance schemes are KCC holders eligible for?

    <p>Both crops and livestock</p> Signup and view all the answers

    Study Notes

    Kisan Credit Card (KCC) Scheme

    • The primary objective of the KCC scheme is to ensure timely and institutional credit flow to farmers.

    Benefits of KCC for Farmers

    • Provides financial assistance for non-agricultural purposes
    • Offers concessional interest rates on loans
    • Allows flexibility in repayments based on harvest cycles
    • Reduces dependence on money lenders
    • Acts as a single point for accessing various agricultural loans

    Features of KCC

    • Provides long-term loans for setting up cold storage facilities
    • Can be used for post-harvest storage solutions
    • Validity period is 3 years (subject to renewal)

    Eligibility and Insurance

    • KCC holders are eligible for subsidized insurance schemes on both crops and livestock

    Challenges Associated with KCC

    • Complex application process
    • Lack of awareness among beneficiaries
    • Difficulty accessing banks in remote areas

    Improving the Effectiveness of KCC

    • Conducting financial literacy campaigns for farmers can improve the effectiveness of the KCC scheme

    History of KCC

    • The Kisan Credit Card Scheme was launched in India in the late 1990s

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Test your knowledge about the Kisan Credit Card Scheme in India with this quiz. Learn about the launch year, objectives, benefits, and more related to this agricultural financial scheme.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser