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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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