Explanation:

Indian farmers need three types of credit, viz., short-term, medium-term and long- term. Their short- term and medium-term credit requirements are fulfilled by the co-operative banking institutions like PACs, CCBs  and SCBs.

Statement 1 and 2: A land development bank is a special kind of bank in India, and is of quasi- commercial type that provides services such as accepting deposits, making business loans, and offering basic investment products.

The main objective of the LDB is to promote the development of land, agriculture and increase the agricultural production. The LDB provides long-term finance to members directly through its branches. The borrowing capacity of a member is generally determined according to the number of shares he holds in the bank. The loan granted by land development bank is repayable within 20 to 30 years. Normally, loans are granted up to 50% of the value of the land or up to 30 times the revenue. The Land Development Banks have no uniform pattern. In some states, they are unitary and in some others, they are federal in nature.