NABARD was set up in the year 1982, with a mission to promote sustainable and equitable agriculture and to foster rural development. It has evolved over the decades as an important institution actively bridging the aspirations of rural India with the ground realities by providing them with financial, institutional, and technical support. This is a blog on how NABARD and the policies it has implemented have helped it become a mainstay in transforming rural India and taking its development to the grassroots, empowering communities toward self-sufficiency and resiliency. 

Why Focus on Rural Development? 

There is a strong need from the sociological, economic, political, and humanitarian dimensions to focus on rural development and prosperity in India. More than 65% of the Indian population dwells in rural areas. If it is given the least priority, then sociologically, the gap between the urban and rural population will become much broader than it has been, leading to social fragmentation and tension.  

Rural India is rich in cultural heritage and human capital, but the poor infrastructure, and a lack of education, and healthcare have often allowed this potential to remain untapped. A commitment to rural development can result in India moving toward creating a society that is more equitable where all citizens, regardless of their geographic location, have access to opportunities and resources which in turn will foster social cohesion and stability. 

Economically, agriculture remains the backbone of India, as the majority of rural populations derive their livelihoods from it. The agricultural sector contributes immensely to the country’s GDP and is further vital for food security. But without proper development, attention to farmer needs, supporting infrastructure and other resources, stagnation will result in the sector, which can turn into economic instability.  

Improvement in agricultural productivity and practice through adopting sustainable methods will lead to rural development—fueling economic growth while ensuring an economy that can be relied on. Moreover, with improved infrastructure and increased rural incomes, new markets for rural goods and services are created, increasing demand and boosting national economic growth. This kind of balanced growth will also ensure that the benefits from economic growth are shared all over the country and not merely concentrated in some urban areas. 

The political advantages of rural development are equally significant for national unity and political stability. Developmental regional disparities can lead to discontent and sometimes insurgency. This will also reduce regional disparities and focus on national integration and political stability. Besides, rural development is in conformity with the principles of inclusive growth, wherein every citizen has a stake in the country’s progress, irrespective of his/her/their location. This inclusiveness is necessary for democratic governance to sustain and for people to repose faith in political institutions. 

The humanitarian argument for focusing on rural development is no less strong. Rural India stands almost as a synonym for higher poverty, limited education and health facilities, and varied issues over the marginalization of vulnerable communities. It is an imbalance that must be redressed by putting special development efforts into action. Better living conditions in rural areas not only reduce poverty but also empower the marginalized communities to have a better life. This is the very basic foundation of bringing in social justice and making every citizen live with dignity. 

Dedicated policies on Indian rural sector development can also help sharpen our country’s international competitiveness. A thriving rural sector can lead to significantly more agricultural exports and reinforce India’s claim to being a leading competitor in the international market. Investment in rural development can increase productivity and quality of produce. The focus on rural development is to emphasize innovation in agriculture and rural industries. By incorporating modern technology, India would be able to increase efficiency and productivity, hence competition on the global stage. 

Furthermore, the fast-track migration into towns and cities due to the lack of opportunities in rural areas, puts a strain on urban infrastructure, thus leading to the overcrowding of cities and proliferation of slums. If rural areas were to be developed and opportunities made available at home, this would reduce migration and, therefore, ensure a more balanced urban-rural demographic. Moreover, rural communities are custodians of India’s cultural heritage, traditional knowledge, and sustainable living practices. In a similar vein, the preservation and integration of these practices into modern models of development ensure that progress does not have to be made at the expense of cultural and environmental degradation. 

How does NABARD Reinforce Rural Development? 

NABARD, the National Bank for Agriculture and Rural Development, has been a cornerstone in the development and transformation of India’s rural sector since its establishment in 1982. As the apex financial institution responsible for promoting sustainable and equitable agriculture and rural development, NABARD has implemented a wide range of schemes and initiatives that have significantly impacted rural communities across the country. These schemes have been designed to address various aspects of rural life, from financial inclusion and agricultural productivity to infrastructure development and skill enhancement. 

Credit Support and Financial Inclusion 

One of NABARD’s core objectives is to enhance financial inclusion in rural areas, and this has been achieved through several impactful schemes. The Self-Help Group (SHG)-Bank Linkage Programme (SHG-BLP), launched by NABARD, is a prime example. This scheme aims to provide financial services to unattended and underserved poor households through the SHG model. The SHG-BLP has become the world’s largest microfinance program, covering almost 16.19 crore households in India. Over 80% of these groups are exclusively women-led, thereby not only improving access to credit but also significantly empowering rural women. The program has enabled women to take loans at reasonable interest rates, start small businesses, and improve their families’ economic conditions, leading to greater financial independence and enhanced social status. 

To further support the SHG movement, NABARD has implemented Skill Development Programmes for SHGs. These programs provide need-based skill development training to mature SHGs, enhancing their income and employability. As of now, 6.12 lakh SHG members have been trained through 20,822 Micro Enterprise Development Programmes (MEDPs). By leveraging the SHG platform for imparting skills, NABARD has facilitated access to credit, promoted livelihoods, and enabled members to undertake income-generating activities, contributing to the economic upliftment of rural communities. 

NABARD’s Refinance Schemes for Banks have also played a crucial role in boosting bank credit to SHGs, Joint Liability Groups (JLGs), and Micro Finance Institutions (MFIs). By providing refinance to banks, NABARD ensures that these financial institutions have sufficient liquidity to extend loans to rural borrowers. During 2023-24, NABARD extended refinance of ₹10,099.55 crore to banks, with cumulative refinance disbursement for SHG lending standing at ₹1,17,895.32 crore as of March 31, 2024. This infusion of credit has enabled rural enterprises to grow, thereby creating jobs and stimulating economic activity in rural areas. 

In response to the challenges posed by the COVID-19 pandemic, NABARD introduced Special Refinance Schemes for Post-COVID Recovery. These schemes were designed to address the issue of rural migration and boost the agriculture and rural sector in the post-pandemic era. The schemes provided concessional credit to eligible financial institutions for activities such as micro food processing enterprises, water, sanitation, and hygiene (WASH) projects. By supporting these essential activities, NABARD helped stabilize rural economies and provided much-needed relief to communities affected by the pandemic. 

Rural Infrastructure Development 

NABARD’s Rural Infrastructure Development Fund (RIDF) has been instrumental in financing the construction of essential rural infrastructure, including roads, bridges, irrigation systems, and rural electrification. The RIDF was established to bridge the gap in rural infrastructure, which is critical for improving connectivity, access to markets, and the overall quality of life in rural areas. For example, by funding irrigation projects, NABARD has increased the availability of water for agriculture, leading to higher crop yields and improved food security. Similarly, the construction of rural roads under RIDF has enhanced access to markets, allowing farmers to sell their produce at better prices and reducing transportation costs. These infrastructure projects have had a multiplier effect on rural economies, creating jobs, and boosting economic activity. 

In a significant move to strengthen the cooperative credit structure, NABARD has embarked on the Transformation of Primary Agricultural Credit Societies (PACS) into Multi-Service Centres. This initiative, launched in 2020-21, aims to develop PACS into Multi-Service Centres over three years by providing concessional refinance to State Cooperative Banks (StCBs). NABARD has earmarked ₹5,000 crore for this purpose, with the goal of transforming 35,000 PACS into entities capable of offering a range of services beyond credit, such as input supply, marketing, and storage. This transformation is expected to enhance the role of PACS in rural development, making them more responsive to the needs of farmers and rural communities. 

Agricultural Development and Innovation 

NABARD has been at the forefront of promoting sustainable agricultural practices and innovation in farming. Through its Farm Sector Promotion Fund (FSPF), NABARD supports projects that promote sustainable and climate-resilient agriculture, such as organic farming, integrated pest management, and watershed development. These initiatives have helped farmers adopt environmentally friendly practices that improve soil health, conserve water, and increase crop yields. By funding agricultural research and development, NABARD has facilitated the transfer of knowledge and technology to the grassroots level, helping farmers improve their productivity and income. 

Skill Development and Capacity Building 

Recognizing the importance of human capital in rural development, NABARD has implemented various programs focused on skill development and capacity building. The Skill Development and Employment Generation Fund (SDEF), for instance, has provided training to rural youth in a range of skills, from modern farming techniques to entrepreneurship and vocational skills. These training programs have equipped rural individuals with the skills needed to start their businesses, secure better-paying jobs, and contribute to the rural economy. By fostering entrepreneurship, NABARD has helped create a culture of self-reliance in rural communities, reducing dependence on agriculture and promoting the diversification of rural incomes. 

Natural Resource Management and Environmental Sustainability 

NABARD has been a strong advocate for natural resource management, recognizing that sustainable development in rural areas depends on the careful management of natural resources. The Watershed Development Program is one of NABARD’s flagship initiatives in this area. By promoting watershed management, NABARD has helped rejuvenate degraded lands, improve water availability, and enhance agricultural productivity in drought-prone areas. Similarly, NABARD’s Tribal Development Fund (TDF) focuses on the sustainable development of tribal communities by promoting agroforestry, horticulture, and other sustainable practices that improve livelihoods while conserving the environment. These programs have had a significant impact on the ecological and economic resilience of rural communities, particularly in environmentally fragile regions. 

Support for Rural Enterprises and Microfinance 

In addition to agricultural development, NABARD has supported the growth of rural enterprises and microfinance institutions. By providing refinance support to rural banks and microfinance institutions, NABARD has facilitated the growth of small and medium enterprises (SMEs) in rural areas. These enterprises provide essential services, create jobs, and contribute to the overall economic development of rural communities. NABARD’s efforts in promoting rural entrepreneurship have been further strengthened by its support for the Rural Innovation Fund (RIF), which finances innovative projects that have the potential to improve rural livelihoods. By encouraging innovation and entrepreneurship, NABARD has helped diversify rural economies, making them less dependent on agriculture and more resilient to economic shocks. 

Post-Harvest Management and Market Access 

NABARD has also focused on improving post-harvest management and enhancing market access for farmers. Through initiatives like the Warehouse Infrastructure Fund (WIF), NABARD has supported the construction of warehouses and cold storage facilities, helping farmers reduce post-harvest losses and store their produce until they can get better prices in the market. Furthermore, NABARD’s support for Farmer Producer Organizations (FPOs) has empowered farmers to collectively market their produce, negotiate better prices, and access bulk inputs at lower costs. These initiatives have improved the bargaining power of small farmers and enhanced their income, contributing to the overall prosperity of rural communities. 

Career in NABARD  

A career in NABARD is of high repute since it offers one the unique opportunity to be a part of rural development and agricultural prosperity in the country. With NABARD you get the opportunity to work at the primary institution for shaping the rural economy of India and, therefore, placing yourself at the threshold of impactful initiatives changing many lives across rural communities. With the NABARD Grade A exam and NABARD Grade B exam drawing close, ixamBee is excited to help aspiring NABARD candidates prepare for the upcoming NABARD selection exam. ixamBee offers a vast array of NABARD preparation resources like our NABARD Grade A Phase 1 and 2 course, online test series for NABARD exams, NABARD Grade B mock test series, and NABARD previous year papers.  

Conclusion  

The policies and programs of NABARD have had a cumulative transforming effect on rural communities in terms of financial support, building infrastructure, sustainable agriculture practices, and empowering rural people through skill development and entrepreneurship, all of which have changed the quality of life in rural India. Innumerable farmers have benefited through improved access to credit, better infrastructure, and farming practices. Women in rural areas have been empowered through microfinance and self-help groups; it has enhanced gender equality and economic independence. With India continuing to change at various levels, the role of NABARD can only become more important in making this rural sector more equitable and prosperous. 

To help you prepare 50% faster for competitive exams, ixamBee provides free Mock Test Series and all the Current Affairs in English and Current Affairs in Hindi in the BeePedia capsules for GA Preparation. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI Grade B, NABARD, and Other Government Jobs.   

Also read:

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First, let’s explore why these government initiatives are central. They fuel India’s socio-economic growth, covering areas from reducing poverty and agricultural advancement to boosting financial reach and rural infrastructure. Grasping these plans shows you’re in tune with the economic scene and able to assess the effects of government policies. 

Interestingly, while both exams require awareness of these government plans, they focus on different areas. NABARD, which is centered on rural development and agriculture, stresses plans related to these fields, like the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) or the Paramparagat Krishi Vikas Yojana (PKVY). On the other hand, the RBI Grade B exam, focusing on banking and finance, tends more towards schemes affecting these sectors, such as Stand-Up India or MUDQA. 

Yet, the worry over overlooking an important scheme is a common concern among students preparing for either exam. This blog aims to clarify the study process for government schemes. We’ll show you a strategy that emphasizes understanding over sheer memorization, ensuring you excel in this key part of the NABARD and RBI Grade B exams. 

The Strategy of Schemes for NABARD and RBI Grade B 

Government schemes can feel like an overwhelming labyrinth for NABARD and RBI Grade B aspirants. But fear not! Here’s a strategic approach that prioritizes understanding over memorization, turning this section into your ally. 

Ditch the Rote, Embrace the Why: Forget memorizing every minute detail of every scheme.  Instead, focus on grasping the core objectives, target beneficiaries, and the impact each scheme aims to achieve. This in-depth understanding allows you to analyze schemes critically and discuss their effectiveness in the real world. 

Organize for Efficiency: Categorize schemes by themes like agriculture, rural development, financial inclusion, and infrastructure. This creates a mental framework, making it easier to recall and compare relevant schemes during the exam. 

Stay Ahead of the Curve: Prioritize current and high-impact schemes. Recent government initiatives often carry more weightage and demonstrate your awareness of evolving policies. Resources like the RBI website and official government websites are your best friends for finding the latest and most important schemes. 

Remember, this is just the beginning. Following are some practical tips for effective preparation, including utilizing current affairs and news sources, understanding the interlinkages between schemes, and using mind maps for better memorization: 

• Make current affairs and government announcements for your allies. Regularly follow credible news sources to stay updated on recent scheme launches and policy changes. This not only keeps your knowledge base fresh but also allows you to analyze the potential impact of these new initiatives. To stay up to date with general knowledge, you can explore ixamBee’s Beepedia with daily, weekly, and monthly updates on current affairs.

• Don’t get lost in the details.  For each scheme, focus on understanding the core objectives, target beneficiaries, and the intended impact. This will equip you to answer questions that go beyond just naming the scheme and delve into its effectiveness. 

• Government schemes are rarely standalone entities. Many are designed to work together for a bigger purpose.  Identify the interconnections between schemes targeting similar goals. Understanding how these schemes complement each other will demonstrate a deeper level of understanding. 

• Mind maps or flowcharts can be powerful tools for memorization and connecting different schemes. Create visual representations that showcase the relationships between various schemes under a particular theme. This not only aids in recall but also helps you identify potential overlaps and synergies. 

Important Schemes for the NABARD Exam 

To give you an idea of how to implement the above strategies to study relevant government schemes for the NABARD exam, we have picked a few important government schemes whose importance and impact are felt even today. Take a look at the schemes below: 

Agriculture Infrastructure Fund (AIF) 

Year Launched: 2020 

Objective: To provide medium-long-term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets. 

Launched by: Ministry of Agriculture and Farmers’ Welfare 

Brief: The AIF aims to provide financial support to farmers, farmer-producer organizations (FPOs), agricultural entrepreneurs, and startups for the creation of post-harvest management infrastructure. This includes setting up of cold storage, collection centers, processing units, etc. The fund provides a medium-long term debt financing facility for these projects. 

 Sahakar Mitra – Scheme on Internship Programme 

Year Launched: 2021 

Objective: To provide paid internship opportunities to youth in cooperative institutions and to encourage youth to take up cooperative-based entrepreneurship. 

Launched by: NABARD 

Brief: The Sahakar Mitra scheme provides internship opportunities to youth in cooperative institutions. The internship duration is 3-6 months, and interns are provided a monthly stipend. The scheme aims to promote cooperative-based entrepreneurship and provide hands-on experience to youth in the cooperative sector. 

 Yuva Sahakar – Cooperative Enterprise Support and Innovation Scheme 

Year Launched: 2019 

Objective: To provide financial assistance and credit guarantee support to young cooperators to take up entrepreneurial activities, innovation, and modernization of cooperative business. 

Launched by: NABARD 

Brief: The Yuva Sahakar scheme provides concessional finance and credit guarantee support to young cooperators (age 18-40 years) to set up new cooperative enterprises or modernize existing ones. It aims to promote cooperative-based entrepreneurship and innovation among the youth. 

 Fisheries and Aquaculture Infrastructure Development Fund (FIDF) 

Year Launched: 2018 

Objective: To provide concessional finance for the development of fisheries infrastructure. 

Launched by: Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying 

Brief: The FIDF provides affordable credit to state governments, state entities, cooperatives, individuals, and entrepreneurs for the development of fisheries infrastructure, such as fishing harbors, cold chain, and aquaculture farms. This helps boost fish production and productivity in the country. 

 Pradhan Mantri Fasal Bima Yojana (PMFBY) 

Year Launched: 2016 

Objective: To provide comprehensive crop insurance coverage against crop loss due to various natural perils. 

Launched by: Ministry of Agriculture and Farmers’ Welfare 

Brief: PMFBY is a crop insurance scheme that provides coverage for crop loss due to natural calamities, pests, and diseases. It aims to stabilize the income of farmers and encourage them to adopt innovative practices in agriculture. 

You can see that by categorizing relevant information regarding a scheme, you don’t have to go through pages and pages of information to study it. The name, year, ministry, and objective of the scheme suffice as basic introductions to a scheme. This method will help you cover a large number of schemes in a short period of time without being confused. Out of all the agriculture and rural development-related schemes by the government of India, which are important for the NABARD exam, some will stand out. 

There will be a few schemes, either recent or old, which will have wider implications in the overall governance of the nation. It is those specific schemes where you should spend more time. These schemes include Pradhan Mantri Krishi Sinchai Yojana (PMKSY), Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), and Micro Irrigation Fund (MIF). ixamBee helps you with all-round preparation for the NABARD exam through the NABARD online course, NABARD test series, and more.

Important Schemes for the RBI Grade B Exam 

Following the same tips from above, the way we listed government schemes for the NABARD exam, in this section we will go through important schemes to cover the for the RBI Grade B exam.  

Sovereign Gold Bond Scheme (SGB)

 
Year Launched: 2015 
Objective: The aim is to decrease the demand for physical gold and encourage the allocation of a portion of domestic savings, traditionally used for gold purchases, into financial instruments. 
Launched by: Ministry of Finance, Government of India 
Brief: This scheme offers investors a mechanism to own gold in bond form rather than tangible assets. These bonds, expressed in gold grams, present an innovative pathway beyond conventional gold possession, alongside a prospect to accrue interest on the held investment. This arrangement not only aims to convert gold investors towards more fiscal mediums but also enriches the financial saving culture by embedding a value-generating option apart from the physical holding of gold. 

Remission of Duties and Taxes on Exported Products (RoDTEP) 

Year Launched: 2021 
Objective: To refund the embedded central, state, and local duties/taxes that are not refunded under any other mechanism, to exporters. 
Launched by: Ministry of Commerce and Industry, Government of India 
Brief: The RoDTEP program aims to boost the global competitiveness of Indian exports by refunding the embedded taxes and duties on inputs for exports. It supersedes the previous Merchandise Exports from India Scheme (MEIS) and ensures exporters are reimbursed for all embedded taxes and duties, thus augmenting their competitive edge in global markets. 

Marketing and Logistics Development for the Promotion of Tribal Products from the North-Eastern Region (PTP-NER) 

Year Launched: 2021 
Objective: To promote the marketing and branding of tribal products from the North-Eastern region and strengthen the logistics infrastructure. 
Launched by: Ministry of Tribal Affairs, Government of India 
Brief: This scheme strives to enhance brand awareness, better market reach, and fortify the supply network for these goods, thus promoting the earnings and living standards of tribal groups. This initiative undertakes to mold a more robust economic environment for indigenous products, guaranteeing their rightful place in the competitive market while respecting the unique cultural heritage they represent. 

Mahila Samman Savings Certificates, 2023 

Year Launched: 2023 
Objective: To provide a savings instrument for women, with a higher interest rate and partial withdrawal facility. 
Launched by: Ministry of Finance, Government of India 
Brief: The Mahila Samman Savings Certificates, 2023, is a recent savings plan launched by the Indian Government to boost financial growth and power for women. This scheme provides a higher interest rate than most other minor savings options and permits some amount to be taken out early, making it a beneficial saving choice for women. 

Pradhan Mantri Vaya Vandana Yojana (PMVVY) 

Year Launched: 2017 
Objective: To provide social security during old age and protect elderly persons aged 60 years and above. 
Launched by: Ministry of Finance 
Brief: The PMVVY, managed by the Life Insurance Corporation of India (LIC), ensures a steady pension ranging from ₹1,000 to ₹5,000 monthly for those aged 60 and older, spanning a period of 10 years. This program guarantees a fixed return rate of 7.4% per annum for the fiscal year 2020-21, offering financial stability and predictability. 

Other important schemes from the point of view of the RBI Grade B exam include Bharat Bill Payment System (BBPS), Financial Inclusion Fund (FIF), Unified Payments Interface (UPI), Insolvency and Bankruptcy Code (IBC), Atal Pension Yojana (APY) and a few more. You can supplement your exam preparation with ixamBee’s RBI Grade B online course, RBI mock tests, and many more.

Conclusion 

Our journey through a strategic plan to grasp government projects for the NABARD and RBI Grade B exams has placed focus on deep knowledge rather than just learning by heart. This method lifts you to a place where you can examine and judge these policies with a keen eye. Keep in mind, government policies and schemes are just one piece of the puzzle in these broad exams. Candidates are also tested on their math skills, logic, and English. Moreover, showing your clear thinking and ability to solve problems is key to doing well. To help you with this ixamBee offers numerous resources like quantitative aptitude quizzes, English language basic concepts, and other resources like free mock tests and previous year papers.

The foundation of strong preparation is building a solid grasp of the main goals, who these projects are for, and the change they aim to make. This insight, together with recognizing how different plans intersect, will prepare you to shine in this area and others. 

So, as future experts in finance and rural growth, start your study path with certainty. By following the strategies we’ve discussed and focusing on understanding, you’ll be in a strong position to tackle the NABARD and RBI Grade B exams. 

To help you prepare 50% faster for competitive exams, ixamBee provides a free Mock Test Series and all the Current Affairs in English and Current Affairs in Hindi in the BeePedia capsules for GA Preparation. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI Grade B, NABARD, and Other Government Jobs. 

Also Read:

What are some dos and don’ts for the RBI Grade B exam?

Government Schemes for NABARD Grade A

NABARD Grade A Best Study Material: How To Prepare for Finance

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If required, unitholders may sell their units to UTI at the prices set by UTI. One of the benefits of investing in UTI is that it provides an income tax refund and the income generated by the UTI is tax-free which is subject to certain limitations.

UTI: Organisation and Management

UTI commenced its operations with an initial capital of ₹5 crores as a contribution from the RBI, LIC, SBI, its subsidiaries, and scheduled banks and financial institutions. The initial capital of Rs. 5 crores was split into 1,000 certificates of ₹ 50,000. The UTI may borrow money from the Reserve Bank of India to augment its financial capital, with the money being repayable either on-demand or within 18 months of notification issued.

UTI is governed by a Board of Trustees that includes a chairman and four members appointed by the Reserve Bank of India, one member appointed by the Life Insurance Corporation of India, one member appointed by the State Bank of India, and two members elected by the contributing institutions.

UTI: Objectives

The two primary objectives of UTI are:

• To motivate and accumulate the savings of low- and middle-income groups
• To allow people to share in the country’s industrial development’s benefits and prosperity

The Unit Trust of India ensures that the investor receives a secure return on their investment whenever they need it. UTI publishes a regular price record that is advertised in newspapers.

Two prices are quoted regularly: the purchase price and the sale price of the units. This price may have a slight variation on a regular basis, but monthly fluctuations are rare.

The cost varies depending on whether it is July or June. In July, the various units’ purchase prices are at their lowest. A customer who wants to make a purchase can do so at this time of year and get the best deal on the units.

The UTI’s main goal is to provide small and large investors with the opportunity to purchase shares in properties resulting from the country’s steady industrial development.

History of UTI

The Unit Trust of India, which primarily deals with mutual fund schemes is known throughout India as UTI Mutual Fund. UTI Asset Management Company Private Limited established on January 14, 2003 is in charge of it.

The UTI Trustee Company Private Limited founded UTI Asset Management Company Private Limited. It was established to deal with the various schemes formed by UTI Mutual Fund as well as the schemes that are transferred by UTI Mutual Fund.

The UTI Mutual Fund has gained notoriety for creating a series of schemes that are suitable for all classes of Indian people. The Unit Trust of India has 70 UTI Financial Centers and UTI International offices in Dubai, London, and Bahrain, as well as other service centres around the world. 

UTI Mutual Fund is backed by the Bank of Baroda, Punjab National Bank, and Life Insurance Corporation of India. The creation of the Unit Trust of India signaled the beginning of India’s mutual fund scheme. UTI Mutual Fund launched a flagship scheme, US-64, in 1964, which became the standard term for mutual fund services.

In 2001, the Unit Trust of India was on the verge of collapsing, but the Indian government intervened and restructured the mutual fund system. On the other hand, UTI Mutual Fund redeemed its tempo by competent management and subsequently achieved a booming market. According to 2006 estimates, UTI Mutual Fund is India’s largest mutual fund service provider, with about 35,028 crore INR assets. UTI Mutual Fund and a nominal project of Unit Trust of India were initially separated in 2003 into two broad divisions. However, SEBI Regulations later took over UTI Mutual Fund, while the other division was kept under direct government control.

 At present, Unit Trust of India is governed by Mr. U.K. Sinha who is also the chairman and managing director of the company.

Functions of UTI

• Accepting discounts, buying or selling bills of exchange, promissory notes, bills of lading, warehouse receipts, and other records of title to goods
• To lend money and advance payments
• Merchant banking and investment advisory services will be provided
• To operate leasing and hire purchase business
• Extend portfolio management services to people who don’t live in India
• To purchase, sell, or deal in foreign exchange
• In collaboration with or as an agent for GIC, develop a unit scheme or insurance plan
• To put money into any protection issued by the government, the RBI, or a foreign bank

The UTI can sell and buy its own units, as well as invest in, acquire, retain, and sell securities. The UTI has released units with a face value of Rs. 10 each. These units were initially sold at face value, with prices set by the UTI on a regular basis. Units are available in groups of ten or multiples of ten.

List of familiar schemes of UTI

• Unit scheme—1964
• Unit Linked Insurance Plan—1971
• Children Gift Growth Fund Unit Scheme—1986
• Rajyalakhmi Unit Scheme—1992
• Senior Citizen’s Unit Plan—1993
• Monthly Income Unit Scheme
• Master Equity Plan—1995
• Money Market Mutual Fund—1997
• UTI Growth Sector Fund—1999
• Growth and Income Unit Schemes

Advantages

• The investment is safe, and the risk is distributed through a diverse set of securities
• Unitholders will receive a consistent and high level of profits, as 90% of the company’s earnings will be distributed
• Individuals who earn dividends of up to Rs. 1,000 are exempt from paying income tax
• Since the units can be sold back to the trust at any time at rates set by the trust, the investment has a high level of liquidity

Best UTI Mutual Fund Schemes

Also Read:

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Uniform Civil Code (UCC): Meaning and Recent Developments

Understanding the Reserve Bank of India Act 1934

Get Free Online Test Series, GK updates in form of Beepedia, as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD, and Other Government Jobs.

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The Van Dhan Yojana is a scheme inaugurated by the Ministry of Tribal Affairs and the Tribal Cooperative Marketing Development Federation of India or TRIFED on April 14, 2018. It is also known as Van Dhan Vikas Yojana (VDVY). The scheme was launched with the aim of establishing 50,000 Van Dhan Vikas Kendras (VDVKs) all over the country. 

Government schemes are an important topic as part of the General Awareness syllabus for several exams like FCI AGM, SBI PO, IBPS PO, DSSSB TGT, EMRS Teaching Staff and SSC CGL. 

If you are preparing for NABARD Grade A/B, this topic will be particularly useful to you since issues related to Agriculture and Rural Development (ARD) and Economic and Social Issues (ESI) are the focus of the NABARD examinations. 

Van Dhan Yojana Organization

The organization of the scheme has been done along the following lines:

• 20 members or so involved in tribal occupations or gatherings of Minor Food Produce will form one Self Help Group (SHG) or Swayam Sahayata Samuh.
• The head of the SHG must mandatorily be a member of the tribal community.  
• 15 such SHGs will come together to form 1 VDVK.
• 15 such VDVKs make 1 VDVK Cluster (VDVKC).

Van Dhan Yojana Objectives

The central aim of this scheme is to enhance the incomes of tribal families and tribal communities at large by means of the value addition of tribal goods. In other words, the scheme aims to create and strengthen methods of sustainable livelihoods for forest-based tribal communities. TRIFED, which works toward the upliftment of tribal groups, has coined the motto: 

“Go Vocal for Local Go Tribal – Mera Van Mera Dhan Mera Udyam”

Rather than providing direct or indirect monetary help/subsidies, the government has instead provided tribal communities with the necessary means to develop their products. In this way, the onus is on tribal groups to ensure that they make the best use of this scheme and maximize their profits. The VDVY will not only give a thrust to Minor Food Produces but also inculcate a spirit of entrepreneurship among tribal people. 

Implementation of the Van Dhan Yojana

The Van Dhan Scheme is being implemented at several levels of governance to ensure that the aims and objectives of the scheme are properly and timely realized. 

Van Dhan Yojana Highlights 

In general, any prototypical Van Dhan Vikas Samuh would have the following facilities:

• The means to build infrastructural facilities in the gram panchayat office/building or government building. 
• Tool kits that contain all the equipment necessary to efficiently carry out all processes right from collecting produce to final packing and selling them such as sieving tools, packaging tools and such.
• Training centers with adequate training facilities so 1 batch of SHG members may be trained. 
• Trainee kits for members in the aforementioned training centers. 
• Acquiring working capital for the SHG through banks, cooperative societies and other financial institutions.
• If VDVKs perform successfully, they may be provided more facilities like warehouses, office buildings and such in the next phase of the yojana. 

TRIFED and Van Dhan Yojana

TRIFED will aid the SHG by securing a grant of ₹1 lakh from the Central Government and the Ministry of Tribal Affairs for each of these SHGs. In this way, each VDVK will receive ₹15 lakh each. This grant is to be used for vocational training, securing raw materials, product improvement and such. TRIFED has launched several programs and initiatives within the VDVY. 

One particularly successful initiative was the launching of the Van Dhan tribal start-ups as part of the ‘Mechanism for Marketing of Minor Forest Produce (MFP) through Minimum Support Price (MSP) & Development of Value Chain for MFP’ program. 

MSP for MFP

The VDVY provides an active impetus to the Minimum Support Price for Minor Food Products program of the government. The MSP for MFP is another scheme launched by the Ministry of Tribal Affairs to provide stable employment and income to tribal communities. This initiative was launched in the Union Budget of 2013-2014. 

The MSP covers crops like:

1. Cereals- paddy, barley, wheat, jowar, maize bajra, and ragi
2. Pulses- gram, arhar/tur, urad, moong and lentil
3. Oilseeds- groundnut, rapeseed/mustard, toria, soya bean, sunflower seed, sesame, safflower seed and Niger seed
4. Spices- cardamom, black pepper, turmeric, dry ginger, cinnamon
5. Copra or dried coconut kernels 
6. Raw cotton
7. Virginia flu cured (VFC) tobacco.
8. Raw jute 

There are several other MFPs that are covered under this scheme as well like tamarind, honey, sal seed, sal leaves, bamboo split, myrobalan, mango (amchur), coffee, and tea among others. 

Van Dhan Yojana: Achievements So Far

According to a report published by the Press Information Bureau in April 2021, several milestones have been reached. For example, within 18 months of its inception, 33,360 Van Dhan Vikas Kendras were absorbed into 2224 VDVK Clusters of 300 forest-dwellers in each, sanctioned by TRIFED as of March 31, 2021. 

In May 2021, it was announced that TRIFED would partner with Niti Aayog to implement the newer plans for the development of 39 Tribal Aspirational Districts as part of the larger Atmanirbhar Bharat Abhiyan. The special focus of these districts lies in areas where tribal groups constitute 50% of the population. This will give impetus to employment generation to approximately 2 lakh families. 

Van Dhan Yojana in Manipur 

In another PIB release, Manipur was crowned the model state for the Van Dhan Scheme. Here, 

• 100 VDVKs have been set up that include 1500 SHGs.
• These are providing income and sustenance to 30,000 tribal entrepreneurs who are working with Minor Forest Produce in one way or another. 
• Distribution of tool-kits to VDVK members
• The scheme has received immense support from state and local governments at every step. 

Van Dhan Yojana Trivia

• The Van Dhan scheme is being implemented in 27 states.
• According to TRIFED, almost 100 million forest-dwellers are directly or indirectly dependent on MFPs for food and livelihood.
• Madhya Pradesh has the highest number of Scheduled Tribes in India.
• The Ministry of Tribal Affairs which was set up in 1999 is responsible for the holistic upliftment of scheduled tribes in India.
• The TRIFED is a statutory body established in 1987 that works under the Ministry of Tribal Affairs for the exhaustive socio-economic development of tribal communities in India.

This is an important topic for your General Awareness and Current Affairs preparation. When preparing for government jobs, it is always wise to keep up with the latest developments concerning government schemes and initiatives. Lucky for you, ixamBee’s BeePedia has all the information you need in one place. We provide timely and crisp updates that will help you stay ahead on your GA/GS preparation. 

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On April 24, Panchayati Raj Day is celebrated in India every year. This day is commemorated by the Ministry of Panchayati Raj annually. It was earmarked by then-Prime Minister Manmohan Singh in 2010. This day was picked for commemoration because, on April 24, 1993, the Constitution (73rd Amendment) Act, 1992 came into effect. This Act granted constitutional status to Panchayati Raj institutions.

In this article, let us learn all about National Panchayati Raj Day with its history, significance and how the day is celebrated in India.

Panchyati Raj Day Overview

What is Panchayati Raj?

The Panchayati Raj System/Institution (PRI) is a system of rural local self-government in India. This system was established by the 73rd Constitutional Amendment to promote democracy and socio-political participation at the grass-root level. The Panchayat derives its powers from Article 246 of the Indian Constitution.

National Panchayati Raj Day Theme 2023

The theme for National Panchayati Raj Day 2023 is ‘Sustainable Panchayat: Building Healthy, Water Sufficient, Clean & Green Villages’. This theme highlights the importance of promoting sustainable development in rural areas by ensuring the availability of clean water, promoting good health practices, and creating a clean and green environment.

It also emphasizes the role of Panchayati Raj institutions in achieving these goals by empowering them to take the lead in local-level planning and implementation. By promoting sustainable practices and initiatives at the grassroots level, the theme aims to create healthy, water-sufficient, clean, and green villages that are capable of meeting the needs of their residents while preserving their natural resources for future generations.

National Panchayati Raj Day History

This day was marked by then Prime Minister Shri Manmohan Singh to acknowledge and highlight the contribution of the PRIs towards the management of rural affairs in India.

Significance of National Panchayati Raj Day

This day brings forth the importance of the local self-government and their assistance to Central/State governments in maintaining proper affairs in rural India. On this day, the actions, roles and responsibilities of the PRIs are highlighted as well through the National Panchayat Awards. Further, this day also encourages Panchayat bodies to constantly improve and increase their participation for the smooth functioning of all matters in rural India.

National Panchayat Awards

The Ministry of Panchayati Raj has been stimulating the best-performing Panchayats through awards and recognition since 2011. For this, National Panchayat Awards have been issued to create awareness and share knowledge about the achievements of Panchayats in India and beyond. This will encourage the Panchayat Institutions to build a strong nation and set a unique example for other countries.

The National Panchayat Awards are delegated under the following categories;

1. Deen Dayal Upadhyay Panchayat Sashaktikaran Puraskar
2. Nanaji Deshmukh Rashtriya Gaurav Gram Sabha Puraskar
3. Gram Panchayat Development Plan Award
4. Child-friendly Gram Panchayat Award. 
5. e-Panchayat Puraskar

Also See: Evolution of the Panchayati Raj System in India

SVAMITVA

The Prime Minister of India launched The Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme on April 24, 2020, on National Panchayati Raj Day. The project launched in 2020 was a pilot project. On April 24, 2021, the full-scale project was launched pan-India.

This scheme aims to dispense property validation solutions or the ‘record of rights’ to household owners in rural areas and seeks to issue property cards. The Scheme was granted an outlay of Rs 566.23 crores to be used over five years (2020-2025).  The aim of the scheme is to transform rural India. 

The Prime Minister will be handing over SVAMITVA Property Cards to select beneficiaries, marking the distribution of 1.25 crore property cards under the SVAMITVA Scheme across the country. Additionally, the Prime Minister will be launching the Azadi Ka Amrit Mahotsav (AKAM) Campaign with the theme “Inclusive Development” or “Samaaveshi Vikas”. This campaign aims to generate 1.50 crore “Records of Rights” or Property Cards under the SVAMITVA Scheme by August 2023.

As part of the campaign, a dedicated website and mobile app on “Azadi Ka Amrit Mahotsav – SAMAAVESHI VIKAS” will also be launched by the Prime Minister. The SVAMITVA – Meri Sampatti, Mera Haq campaign under the Azadi Ka Amrit Mahotsav – Samaaveshi Vikas – Inclusive Development theme aims to celebrate people’s participation in saturation of people-centric schemes, and will cover five ministries/departments including MoRD, MoPR, MoA&FW, MoH&FW, and MoFAH&D.

The national launch of these nine campaigns under the “Inclusive Development” theme of Azadi ka Amrit Mahotsav named “विकास की ओर साझे क़दम” is aimed at promoting and celebrating people’s participation in saturation of people-centric schemes, and empowering rural communities across the country.

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The Department of Animal Husbandry and Dairying (DAHD) has launched the One Health Pilot Project in Uttarakhand to implement the One Health Framework by One Health Support Unit. The primary objective of the pilot project is to develop a national One Health blueprint in India based on the outcomes and learnings of this pilot project execution.

In this article, let us learn more about the One Health pilot project in more detail.

“The One Health approach is key in ensuring sustainable development as it addresses interdependencies among people and the planet. We are happy to support the Department of Animal Husbandry and Dairying to initiate the pilot project in the state of Uttarakhand and pave the way for the implementation of the national One Health Framework.”

– Alkesh Wadhwani, Director, Poverty Alleviation, Bill and Melinda Gates Foundation India.

One Health Overview

What is One Health?

The One Health Project in India aims to work towards improving the health of animals, livestock, wildlife and human beings through the use of technology and finance. Further, the larger aim of the project is to conserve and improve the health of the environment.

The project will especially focus on establishing the apparatus for the data collection on diseases and outbreaks, developing the surveillance plan and intertwining laboratory networks. The pilot will also aim toward the developing and implementing of strategy across stake-holding sectors and enhancing digital data architecture in India via the National Digital Livestock Mission.

What is a Pilot Project?

A pilot project or pilot test is a small-scale experiment conducted to test the feasibility, cost and perspective success of a full-scale research project. It is also used to improve upon the present plan/model for maximum results when the full-scale project is launched.

One Health Project Objectives

By developing the One Health Framework, India will successfully address the need for

• Efficient reporting of disease and its response coordination
• Best utilization of available resources
• Maintaining preparedness for all kinds of emergencies
• Build an infrastructural and scientific base to handle diseases of economic and zoonotic importance
• To generate awareness among people about zoonotic diseases and their subsequent economic significance.

Also see: WHO’s One Health Program

One Health Features

Let us go over the key features of the One Health Pilot Project in brief.

• Six interventions have been planned for the implementation of this project that will help in the establishment and initial engagement for improved coordination among various sectors.
• The pilot project will be undertaken in Uttarakhand.
• This project will majorly focus on setting up the mechanism for the data collection on all aspects of diseases, their prevalence, prevention, management and related solutions.
• An inter-ministerial committee has been established under the Chairmanship of the Principal Scientific Advisor to oversee the proper implementation of the One Health Support Unit.
• On the basis of the results achieved and feedback given on the pilot, the state and district level One Health Committees will be formed by competent authorities for large-scale implementation of the scheme.

Why Uttarakhand?

Why has the pilot project been launched in Uttarakhand?

Uttarakhand boasts of a unique ecosystem of rich biodiversity with its dense population of wildlife ensures. Therefore, a number of activities can be planned in the conservation and reserve zones of Uttarakhand to ensure animal, environment and human health can be improved.

Project Steering Committee

A Project Steering Committee has been established under the leadership of the Secretary of DAHD, Shri Atul Chaturvedi. The committee comprises representatives from the Ministry of Health & Family Welfare, Ministry of Environment, Forest & Climate Change, Indian Agricultural Research Institute, field practitioners and members of civil society.

One Health Significance of the Pilot Project

This One Health Pilot Project in Uttarakhand will enable the Government of India to create the One Health Framework for India in the future. The GOI will govern the coordinated efforts of all stakeholders to review the success of the project. This project will also facilitate capacity building and disease prioritization.

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The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was launched on July 1, 2015 with the intention to divert more attention to water conservation and its efficient management. The scheme was brought into action by the Cabinet Committee on Economic Affairs with the approval of the Prime Minister. The scheme works under the joint purviews of Ministries of Jal Shakti, Rural Development and Agriculture & Farmers Welfare.

The government had allocated a budget of ₹50,000 crore to be utilized over a period of 5 years between 2015-16 to 2020. For the present fiscal year, the allocation stands at ₹ 4,000 crores. 

The tagline of the PMKSY is “More Crop Per Drop”. 

PM Krishi Sinchayi Yojana Latest Update 2022

The Cabinet has approved the implementation of Pradhan Mantri Krishi Sinchayi Yojana (PMKSY) scheme for 2021-26. The Cabinet Committee on Economic Affairs has made provisions to fund 90% of water for Renukaji and Lakhwar dams. The idea behind this new implementation is to improve the water supply, both in terms of availability and quality in Delhi.

Furthermore, the Cabinet has approved new projects under the Accelerated Irrigation Benefit Programme as well. This program aims to complete 60 projects at present.

Additionally, please take a look at the other details of the PMKSY latest update 2022 as released by the Press Information Bureau of India.

Image source: https://twitter.com/PIB_India/status/

Pradhan Mantri Krishi Sinchayi Yojana: Objectives 

• To secure more investments for field irrigation
• To expand the cultivable area available under irrigation
• To ensure the efficacious use of water on fields to reduce the wastage of water
• To ensure faster completion of related ongoing projects
• To utilize water with the help of indigenous rainwater harvesting techniques

Enforcement of the Pradhan Mantri Krishi Sinchayi Yojana 

At the federal level, the program will be regulated and is to be supervised and audited by an Inter-Ministerial National Steering Committee (NSC). The Committee will be headed by the Prime Minister and will comprise Ministers heading allied ministries.  The implementation and issuance of resources, inter and intra ministerial communication and supervision & performance evaluation will be overseen by the National Executive Committee and NITI Aayog. 

Implementation of the Pradhan Mantri Krishi Sinchayi Yojana

The PMKSY is being implemented at all 3 levels of government- National, State and District. Also, the PMKSY has been designed to incorporate all the other ongoing schemes of the government pertaining to water management and agriculture. These schemes are: 

1. Accelerated Irrigation Benefit Program (AIBP) 
2. Integrated Watershed Management Program (IWMP) 
3. On Farm Water Management (OFWM)
4. Pramparagat Krishi Vikas Yojana (PKVY)
5. Atal Bhujal Yojana (ABY)
6. Micro Irrigation Fund (MIF)

Components of the Pradhan Mantri Krishi Sanchayi Yojana

The PMKSY is composed of the following components:

• Construction of new water sources by establishing minor irrigation projects
• Construction of rainwater harvesting systems (Jal Sanchay)
• Ground water development in areas where rainfall is aplenty
• Improvement of water distribution systems across the country
• Proper management of runoff water to improve soil and moisture conservation practices on a watershed basis
• Create and/or reconstruct traditional water storage systems, like the Jal mandir in Gujarat and Katas and the Bandhas in Odisha and Madhya Pradesh
• To encourage the use of precision water application devices like drips, sprinklers, pivots, rain-guns in the farm (Jal Sinchan)

Pradhan Mantri Krishi Sinchayi Yojana Performance

The irrigation programme has been doing especially well in some states more than others. For example, in states like Karnataka, Andhra Pradesh, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Telangana the scheme has been implemented well. States like West Bengal, Himachal and Assam are yet to pick pace. 

Advantages and Disadvantages of PMKSY

After more than 5 years since its inception, the PMKSY has yielded some benefit to farmers and the agriculture and allied units. Several studies have also been undertaken that highlight the performance of the scheme through the years. We have listed some advantages and challenges seen through the years.

Advantages of the PMKSY

• Decreased need for water for irrigation
• Higher yield of crop(s)
• Reduced wastage of water through the use of efficient technology
• Better and higher yield resulting in higher profits
• Reduction in input use cost(s) due to micro-irrigation

Challenges faced

• High cost of tube wells
• Increased dependence on unreliable power supply
• Drop in the water table
• Lack of training/awareness among farmers about the scheme and its benefits

Saur Pump Yojana

The Mukhyamantri Saur Krushi Pump Yojana also known as, simply Saur Pump Yojana was launched by the Maharashtra State government to ensure the availability of solar power energy for agricultural pumping and to reduce the dependence on power subsidy. 

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Such topics on government schemes are very important when you are preparing for NABARD Grade A/B exams. We will be writing an entire series on government schemes and programs that are important for your preparation. You can find all our blogs on our website. Also, you can also look at ixamBee’s BeePedia page for information on other aspects of Current Affairs and General Awareness. 

Further, if you want to learn more about such Government schemes for agriculture and allied fields, you can take a look our ixamBee’s NABARD Grade A free demo course. The course will also give you all the resources you need for your wholistic preparation.

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This mission is being promoted as “India’s largest Scheme to scale up health infrastructure”.

This mission is an addition to the Ayushman Bharat National Health Mission.

Ayushman Bharat Health Infrastructure Mission Key Points

• To provide support to 17,788 rural health and wellness centers in 10 high-focus states.
• Establish 11,024 urban health and wellness centers across India.
• To provide critical care services in all districts with more than five lakh population through exclusive critical care hospital blocks, remaining districts to be covered through referral services.
• To set up a national institution for One Health, four new institutes for virology, a regional research platform for WHO’s South East Asia region, nine biosafety level-III laboratories and five regional centers for disease control.
• Add 35,000 new critical care related beds in 600 districts. 

Ayushman Bharat Health Infrastructure Mission Objectives

Challenges in Indian Health Care System

• Lack of proper infrastructure
• Shortage of trained healthcare professionals
• Increased patient load because of Covid-19 pandemic

Significance of the Mission

In light of the above challenges, let us look at the significance of this scheme.

• For a long time, India has struggled with an inadequate healthcare infrastructure.
• This scheme looks at a healthier India by providing affordable healthcare to the marginalised sections.
• This scheme, along with other schemes like Swachh Bharat Mission, Jal Jeevan Mission, Mission Indradhanush will save crores of people from diseases.
• In addition, Ayushman Bharat Yojana has also solved many health related issues through Ayushman Bharat Digital Mission.

The ongoing Covid-19 pandemic has highlighted the sad state of the healthcare infrastructure system in India.

For a developing country like India, the public health spending is only around 1 to 1.4 percent of the GDP. So, the infrastructural improvement suggested under the current scheme will help in bringing more investments in the healthcare sector from both public and private sectors which will make the healthcare system more accessible and affordable.

The above topic is relevant if you are preparing for competitive exams and can be asked in the General Awareness section. Exams such as NABARD Grade A, NABARD Grade B,IBPS RRB PO, IBPS RRB Clerk and SEBI Grade A test a candidate’s general awareness. You can find the requisite resources on our BeePedia page. These updates are free and available in Hindi as well.

Get Free Online Test Series, GK updates in the form of BeePedia as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

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In this article, we will learn all about the scheme, its features and objectives. We will also look at how the scheme has fared over the decades. 

If you are appearing for the upcoming IBPS SO Agriculture Field Officer exam, or any other exam such as FCI AGM or NABARD Grade A/B, you should read this article with extra care. Such topics on government schemes are particularly tested in exams if you want to work as an Agriculture Field Officer in a public sector bank.

Kisan Credit Card Scheme Overview 

Take a look at the overall highlights of the scheme. 

Kisan Credit Card What’s New?

• The Government of India launched a pan-India program to given KCCs to eligible dairy, animal husbandry and fishery farmers. The plan is to enroll 2 crore people in the next 3 months.
• A loan of a total of ₹2.32 lac crores has been given to 2.28 crore PM-KISAN beneficiaries linked with the Kisan Credit Card scheme (as of August 2021).
• The Union Minister of State for Fisheries, Animal Husbandry and Dairying, Shri L. Murugan, said every fisherman must and will receive the benefits of the KCC.

Kisan Credit Card (KCC) Scheme Objectives

• To meet short term credit requirements for cultivation of crops.
• To meet consumption needs of farmers and cultivators.
• To allow farmers to procure capital.
• Maintenance of farm equipment and assets for allied sectors. 
• Overall development of the agriculture and allied industries. 
• Holistic upliftment of those engaged in agriculture and allied industries.

Kisan Credit Card Scheme Features 

• Credit assistance for procurement of fertilizers, seeds, machinery and other agricultural tools.
• KCC holders can also get cash discounts from merchants/ dealers while buying the aforementioned products. 
• Credit is given for 3 years and can be repaid once the harvest season is over. 
• Repayment can be done in installments in some cases.
• Farmers are given credit for meeting their financial requirements of agricultural and other allied activities along with post-harvest expenses.
• Interest subvention/incentive options for timely repayment based on rules of the banks.
• There is no processing fee for credit up to ₹3 lacs.
• Interest on KCC

1. Up to ₹3 lac- 7%
2. Above ₹ 3 lac- as applicable from time to time 

In essence, while most government schemes are aimed toward fulfilling the long-term and investment needs of the farmers, the KCC ensures that the farmers are able to meet their day-to-day and short term needs as well. 

Who Gives KCC?

This credit is given by participating public and private sector banks in India that includes cooperative, commercial and regional rural banks. 

Confused between Kisan Credit Card and Soil Health Card? Learn the difference here.

Kisan Credit Card Scheme Eligibility

• All farmers, be it individuals and joint borrowers who are owner cultivators
• Tenant farmers, oral lessees & sharecroppers
• Self Help Groups of farmers 
• tenant farmers 
• farmers involved in allied sectors like animal husbandry, dairy and fisheries 

Eligible applicants can apply for the KCC both online as well as offline. 

For the online method, they can submit an application with required documents by visiting the website of the bank with which they want to apply for a loan.

For the offline process, applicants can visit the local branch of the bank and fill in a paper application and submit the required documents with it. 

Documents required for KCC

An applicant is required to submit the following documents. 

• A filled-in application form. 
• Copy of a valid photo identity proof 
• Copy of valid address proof documents
• Proper land documents
• Passport size photograph
• Other documents that may be requested by the particular bank.

Want to learn more? Read what the RBI says about the KCC.

Types of Credit

Essentially, there are 2 types of credit that is given to farmers; Cash Credit and Term Loan. 

Benefits of KCC

• Easy process of application. Farmers can apply for KCC both online and offline. 
• As seen above, the repayment options are flexible as well.
• Need-based loans for short-term and long-term.
• A number of participating banks allow farmers to take credit from a bank of their choice.
• The scheme covers a large group of farmers and workers in allied sectors. 
• Low rates of interest. 
• KCC holders are insured within the National Crop Insurance Services scheme. Moreover, there is an insurance amount for accidents and deaths. 

KCC Progress Thus Far

• 2.5 crore farmers have made and availed the benefits of KCC.
• These farmers have been given KCC with a credit limit of ₹ 2.62 lakh crore via Saturation Drive. 
• The KCC scheme has now been linked to the PM-KISAN Yojana.
• Loans up to ₹3 lac can be availed at 4% interest rate.

Other Government Schemes for Farmers and Rural Development

• Pradhan Mantri Fasal Bima Yojana (PMFBY)
• Personal Accident Insurance Scheme (PAIS)
• PM KISAN Yojana
• PM Kisan Maan Dhan Yojana
• Operation Greens
• Gramin Bhandaran Yojana
• Pradhan Mantri Krishi Sinchayi Yojana

There are many more related articles that we have listed for you below that will not only make you better-informed about the agriculture sector of India but will also help your overall preparation. 

Moreover, you should take some free IBPS SO AFO mock tests before you go. 

IBPS SO AFO Prelims Mock Test

IBPS SO AFO Mains Mock Test

We wish you the very best. 

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If you want to work as an Agriculture (Field) Officer with public sector or regional rural banks or with NABARD, we sincerely encourage you to properly take a look at all the details provided in this article. 

Agriculture Infrastructure Fund Overview

Agriculture Infrastructure Fund Objectives

• The primary aim of the scheme is to mobilize medium and long-term finances to invest in agriculture and allied projects.  
• Improved marketing infrastructure for farmers to sell to more consumers. 
• The scale of balance with harvest and selling will tip in favour of farmers. 
• Reduce the role of intermediaries between farmers (producers) and sellers. 
• Improved productivity through the maximization of inputs can increase farmers’ savings 

Agriculture Infrastructure Fund Features

• The scheme is part of the ‘Atmanirbhar Bharat’ project to make farmers self-sufficient. 
• The scheme was approved by the Union Cabinet in July 2020.  
• Lending institutions include Regional Rural Banks, Commercial Banks, Small Finance Banks, Cooperative Banks and the like. 
• Online single window facility in collaboration with participating lending institutions.
• This fund has been converged with centre and/or state government schemes.
• The sanctioned amount, i.e., ₹1 lakh Crore will be expended over a course of 4 years. The first year saw an outlay of ₹10,000 crore. ₹30,000 crore will be spend over the next three financial years.
• The fund will be supervised and administered through the Management Information System (MIS).
• The postponement of repayment of the loans may vary from a minimum of 6 months to a maximum of 2 years depending upon the lending bank.

Agriculture Infrastructure Fund Benefits

• Credit Guarantee can be provided for a loan up to ₹ 2 crore.
• The rate of interest offered is 3% per annum for a loan of ₹2 crore.
• Need-based refinance may be offered by NABARD to participating banks. 
• The maximum lending rate has been outlined so that the loans remain affordable for beneficiaries. 
• This will improve the income of farmers in the long run.
• With the inefficaciousness reduced at every level, better products will reach the markets at better prices for consumers. 

Scheme Monitoring

The monitoring of the AIF will be conducted at 3 levels, namely, national, state and district. For this, committees have been drawn that will ensure the smooth functioning of the scheme so that maximum benefit can be provided to farmers. These committees are:

• National Level Monitoring Committees
• State Level Monitoring Committees
• District Level Monitoring Committees

Needless to say, these committees will work within their respective jurisdictions. 

Agriculture Infrastructure Fund Who Can Apply?

• Primary Agricultural Credit Societies (PACS)
• Marketing Cooperative Societies
• Farmer Producers Organizations (FPOs)
• Farmers
• Self Help Group (SHG)
• Joint Liability Groups (JLG)
• Multipurpose Cooperative Societies
• Agri-entrepreneurs, Start-ups
• Central/State agency or Local Body sponsored Public-Private Partnership Projects

How to Apply for Loan

The government has released a video that outlines every minute detail of how eligible candidates can apply for loans. The video is available in Hindi and English. 

AIF Online Portal

For the convenience of the beneficiaries and interested persons, the government has set up an AIF online portal through which eligible persons can apply for the loans. For this, people are required to register themselves and then use their accounts for further activities. 

What’s new?

The scheme was initially launched to run between 2020-2029. However, the duration of the scheme has now been extended, i.e, 2020-2032 

Eligible Projects under Agriculture Infrastructure Fund

Interested in taking the AIF loan? Take a look at all the AIF eligible projects for which you can avail a loan. 

Some Useful links

The government has provided an online directory with useful links for the benefit of the people. You can find the information for several important resources. We encourage you to visit the page and take a look at the same.  

Other Schemes for Farmers and Rural Development

• Pradhan Mantri Fasal Bima Yojana (PMFBY)
• Personal Accident Insurance Scheme (PAIS)
• PM KISAN Yojana
• PM Kisan Maan Dhan Yojana
• Operation Greens
• Gramin Bhandaran Yojana
• Pradhan Mantri Krishi Sinchayi Yojana
• Pradhan Mantri Kisan Samman Nidhi.
• Soil Health Card
• Atmanirbhar Bharat Abhiyan

Study with ixamBee

ixamBee has a range of online courses that you can choose from depending upon your needs and the exam(s) you would like to take. We also sincerely encourage you to take a look at the upcoming government exams.

All the best!

At ixamBee you can find a number of Online Courses, Free Mock Tests, GK updates in the form of BeePedia, as well as the latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD, and Other Government Jobs.

Also Read

Pradhan Mantri Matsya Sampada Yojana

Pradhan Mantri Vaya Vandana Yojana

Government Agricultural Schemes in India (Part 1)

Latest Government schemes Part 1

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