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Consider the following statements:
1. Kisan credit card scheme facilitates the short term credits to farmers.
2. Kisan credit card is implemented only by the commercial banks of India.
Which of the statements given above is/are correct?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Correct Option: A
A Kisan Credit card is a credit card to provide affordable credit for farmers in India. It was started by the government of India, Reserve Bank of India (RBI), and National Bank for Agriculture and Rural Development (NABARD) in 1998-99 to help farmers access timely and adequate short term credit. The farmers can use card to withdraw from most of the banks like commercial banks, cooperative banks and regional rural banks.
