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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 Bank Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were creat ...s, and state co-operative banks. The scheme entails short-term credit for crops and term loans. KCC credit holders are also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank For Agriculture And Rural Development
National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance, Government of India. The bank has been entrusted with "matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing and implementing financial inclusion. Background Source: NABARD was established on the recommendations of B. Sivaramman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premier agencies providing Rs.14080 crore (100% share). The authorized sha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Rural Bank
Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were created to serve rural areas with basic banking and financial services. However, RRBs also have urban branches. The area of operation is limited to the area notified by the government of India covering, and it covers one or more districts in the State. RRBs perform various functions such as providing banking facilities to rural and semi-urban areas, carrying out government operations like disbursement of wages of MGNREGA workers and distribution of pensions, providing para-banking facilities like locker facilities, debit and credit cards, mobile banking, internet banking, and UPI services. History Regional Rural Banks were established under the provisions of an ordinance passed on 26 September 1975 and the RRB Act 1976 to provide sufficient ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Bondage In India
Debt bondage in India or Bandhua Mazdoori (बंधुआ मज़दूरी) 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 vi ... [...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. 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.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Finance In India
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals (grains), vegetables, fruits, cooking oils, meat, milk, egg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vajpayee Administration Initiatives
Atal Bihari Vajpayee (; 25 December 1924 – 16 August 2018) was an Indian politician who served three terms as the 10th 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. 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, a Hindu nationalist volunteer organisation. He was the first Indian prime minister not of the Indian National Congress to serve a full term in office. He was also a renowned 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 for Lucknow, retiring from active politics in 2009 due to health concerns. He was among the founding members of the Bharatiya Jana Sangh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atal Bihari Vajpayee
Atal Bihari Vajpayee (; 25 December 1924 – 16 August 2018) was an Indian politician who served three terms as the 10th 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. 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, a Hindu nationalist volunteer organisation. He was the first Indian prime minister not of the Indian National Congress to serve a full term in office. He was also a renowned 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 for Lucknow, retiring from active politics in 2009 due to health concerns. He was among the founding members of the Bharatiya Jana Sang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
