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Q.

State whether true/false.


Kisan Credit Card was launched by the Government of India to benefit farmers.


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a

True

b

False 

answer is A.

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Detailed Solution

The above statement is true.
The government of India launched the Kisan Credit Yojna (KCC) to benefit farmers. KCC was launched in August 1998 to provide term loans for the agricultural needs of the farmers. Under KCC, farmers issue Kisan Credit Cards to take bank loans and buy agricultural inputs such as seeds, fertilisers, etc. Farmers get exploited by the moneylenders as they charge high interest on loans. Formal sources of credit are safer for them. Hence the government launched KCC to protect and promote farmers.
 
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