With reference to Kisan Credit Card Scheme consider the following statements 1 The card provided und...........

Economic Affairs Agricultural Finance

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With reference to Kisan Credit Card Scheme, consider the following statements:

1. The card provided under the scheme is an ATM enabled debit card.

2. It aims to provide interest free short term loans to farmers.

3. It is operational throughout the country except for the state of Jammu and Kashmir.

Which of the statements given above is/are correct?

1 only

2 and 3 only

1 and 2 only

1, 2 and 3

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Explanation:

Kisan Credit Cards are offered to farmers in India in order to enable them to access affordable credit for farmers.

There is no component of interest free loans under it. The scope of the KCC has been broadbased to include term credit and consumption needs. The KCC Scheme has since been simplified and converted into ATM enabled debit card with, inter alia, facilities of one-time documentation.

It is operational throughout the country. It is implemented by Commercial Banks, Cooperative Banks and Regional Rural Banks.