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Kisan Credit Card
The ''Kisan Credit Card'' (KCC) scheme is a credit scheme introduced in August 1998 by Indian public sector banks to issue kisan credit card to the farmers of India. This model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendations of the R. V. Gupta Committee to provide advances for agricultural needs. Its objective was to meet the comprehensive credit requirements of the agriculture sector and by 2019 for fisheries and animal husbandry by giving financial support to farmers. Participating institutions include all commercial banks, Regional Rural Banks, and state co-operative banks. The scheme entails short-term credit for crops and term loans. KCC credit holders are also covered under personal accident insurance up to ₹50,000 for death and permanent disability, and up to ₹25,000 for other risks. The premium is borne by both the bank and the borrower in a 2:1 ratio. The validity period is five years, with an option to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank For Agriculture And Rural Development
The National Bank for Agriculture and Rural Development (NABARD) is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India. It was established under the 'NABARD Act 1981'' passed by the Parliament of India. It ifully ownedby Government of India and functions under the Department of Financial Services (DFS) under the Ministry of Finance. History The importance of institutional credit in boosting rural economy has been clear to the Government of India right from its early stages of planning. Therefore, the Reserve Bank of India (RBI) at the insistence of the Government of India, constituted a Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development (CRAFICARD) to look into these very critical aspects. The Committee was formed on 30 March 1979, under the Chairmanship of Shri B. Sivaraman, for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Bondage In India
Debt bondage in India ( ''bandhua mazdoori'') was legally abolished in 1976 but remains prevalent due to weak enforcement by the government. Bonded labour is a system in which lenders force their borrowers to repay loans through labor. Additionally, these debts often take a large amount of time to pay off and are unreasonably high, propagating a cycle of generational inequality. This is due to the typically high interest rates on the loans given out by employers. Although debt bondage is considered to be a voluntary form of labor, people are forced into this system by social situations. Debt bondage has deep roots in Indian history, dating back to the period when India was under colonial rule. On a more recent note, according to the 2016 Global Slavery Index, India has the 4th most slaves with 19 million Indians enslaved in some form, including debt bondage. Many Indians enter debt bondage to reduce alternative risks of financial burden and violence. Additionally, the Indian ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Cards In India
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. The resources provided by the first party can be either property, fulfillment of promises, or performances. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Finance In India
Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. Agriculture was a key factor in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in the cities. While humans started gathering grains at least 105,000 years ago, nascent farmers only began planting them around 11,500 years ago. Sheep, goats, pigs, and cattle were domesticated around 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. In the 20th century, industrial agriculture based on large-scale monocultures came to dominate agricultural output. , small farms produce about one-third of the world's food, but large farms are prevalent. The largest 1% of farms in the world are greater than and operate more than 70% of the world's farmland. Nearly 40% of agricultural land is found on farms larger than . However, five of every six farms in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vajpayee Administration Initiatives
Atal Bihari Vajpayee (25 December 1924 – 16 August 2018) was an Indian poet, writer and statesman who served as the prime minister of India, first for a term of 13 days in 1996, then for a period of 13 months from 1998 to 1999, followed by a full term from 1999 to 2004. He was the first non-Congress prime minister to serve a full term in the office. Vajpayee was one of the co-founders and a senior leader of the Bharatiya Janata Party (BJP). He was a member of the Rashtriya Swayamsevak Sangh (RSS), a far-right Hindu nationalist paramilitary volunteer organisation. He was also a Hindi poet and a writer. He was a member of the Indian Parliament for over five decades, having been elected ten times to the Lok Sabha, the lower house, and twice to the Rajya Sabha, the upper house. He served as the Member of Parliament from Lucknow, Gwalior, New Delhi and Balrampur constituencies, before retiring from active politics in 2009 due to health concerns. He was am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
