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      Question

      What is the amount of loan provided under the Kisan

      Credit Card Scheme?
      A 1 Lakh Correct Answer Incorrect Answer
      B 2 Lakh Correct Answer Incorrect Answer
      C 3 Lakh Correct Answer Incorrect Answer
      D 4 Lakh Correct Answer Incorrect Answer
      E None of the statements are correct Correct Answer Incorrect Answer

      Solution

      The scheme comes with an ATM-enabled RuPay debit card with facilities for one-time documentation. The Kisan Credit Card (KCC) scheme was introduced in 1998 for providing adequate and timely credit support from the banking system under a single window. It aims to provide short-term crop loans up to ₹3 lakh to farmers at an interest rate of 7 per cent per annum. Farmers that repay their loans on time will receive an additional 3% interest subsidy. The effective interest rate for these farmers is 4%.

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