Which organisation prepared the Kisan Credit Card scheme?

The correct answer is NABARD.

Key Points

• NABARD stands for National Bank for Agriculture and Rural Development.
• It was established on 12 July 1982 by an act of the Parliament.
• The Kisan Credit Card (KCC) scheme was formulated by NABARD to provide timely and adequate credit to farmers for their agricultural needs.
• The KCC scheme aims to provide a single window for farmers to meet their short-term credit requirements for cultivation, post-harvest expenses, and other needs.
• KCC also covers the working capital requirement for animal husbandry and fisheries.
• The scheme helps in reducing the farmers’ dependency on moneylenders and ensures that they get credit at a reasonable rate of interest.
• It provides insurance coverage to farmers in case of crop failure due to natural calamities, pests, and diseases.

 Additional Information

• RBI
  • The Reserve Bank of India (RBI) is the central bank of India, responsible for regulating the country's monetary policy.
  • It was established on 1 April 1935 and was nationalized in 1949.
  • RBI does not directly involve in the creation of credit schemes like KCC but oversees the banking sector to ensure stability and growth.
• SBI
  • The State Bank of India (SBI) is the largest public sector bank in India.
  • It was established on 1 July 1955 and has its headquarters in Mumbai, Maharashtra.
  • SBI implements the KCC scheme as per guidelines provided by NABARD.
• ICICI
  • ICICI Bank is a leading private sector bank in India, established in 1994.
  • It offers a wide range of banking products and services but is not involved in the creation of the KCC scheme.
  • ICICI Bank also participates in the implementation of the KCC scheme to benefit farmers.