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BANKING AWARENESS

GENERAL AWARENESS WITH SPECIAL REFERENCE TO BANKING INDUSTRY

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Friday, 8 June 2012

BANKING AWARENESS PRACTICE MCQs

1. When Government of India was approved SBISBS Merger ?

(A) In August 2007(B) In August 2009(C) In March 2011

(D) In July 2011

See Answer:(A)

2. When RBI made compulsory to the Basel II norms for Banks ?

(A) March 31, 2007

(B) March 31, 2008(C) March 31, 2010

(D) March 31, 2011

See Answer:(B)

3. Which bill passed for reducing the minimum level of government's shareholding in equity of

SBI from 55 per cent to 51 per cent ?

(A) SBI (Amendment) Bill 2009(B) SBI (Amendment) Bill 2010

(C) RBI (Amendment) Bill 2012

(D) None of these
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See Answer:(B)

4. The Reverse Repo rate as announced by RBI on April 17, 2012 stand at(A) 70%

(B) 90%

(C) 80%(D) 85%

See Answer:(A)

5. The new president of ASSOCHAM for the year 2012-13 is(A) Dilip Modi

(B) R. V. Kanoria

(C) Raj Kumar Dhoot

(D) N. L. Kidwai

See Answer:(C)

6. The saving-investment gap during 2010-11 has been estimated at(A) 28% of GDP

(B) 30% of GDP

(C) 32% of GDP

(D) 38% of GDP

See Answer:(A)

7. The pace of credit growth for Private Sector banks increased to 117 per cent during(A) 2010 -11

(B) 2009 -10

(C) 2012 -13

(D) 2008 -10

See Answer:(B)

8. According to RBI, bank loan registered a growth of 2138 per cent in(A) 2010-11

(B) 2009-10

(C) 2010-12(D) 2011-12

See Answer:(A)

9. As per RBI, bank deposits growth stood at....... in 2010-11.(A) 12%

(B) 13%

(C) 1584%

(D) 1413%

See Answer:(C)

10. RBI has projected growth of 17% in bank deposits for the entire financial year(A) 2011-12


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(B) 2010-11

(C) 2011-13

(D) 2012-13

See Answer:(A)

11. RBI has projected credit growth of...........for the financial year 2011-12.(A) 19%(B) 18%

(C) 21%

(D) 8%

See Answer:(A)

12. At present (As on 30 June, 2011), the authorized capital of SBI is

(A) 1500 crore(B) 5000 crore

(C) 16000 crore

(D) None of theseSee Answer:(B)

13. For a scheduled bank the paid up capital and collected funds of bank should not be less

than(A) Rs. 5 lakh

(B) Rs. 6 lakh

(C) Rs. 1 crore(D) Rs. 5 crore

See Answer:(A)

14. Which Act is fully applicable to all commercial banks ?(A) Companies Act, 1956

(B) Partnership Act, 1932

(C) Banking Regulation Act, 1949(D) Sale of Goods Act, 1930

See Answer:(C)

15. As on 31st March, 2010 how many RRBs were recapitalized with total funding support of

Rs. 179597 crore by Government of India ?

(A) 96

(B) 98(C) 27

(D) 15

See Answer:(C)

16. The share of long-term debt in India's total external debt at the end of September, 2011

stands at

(A) 72%(B) 78%


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(C) 80%

(D) 82%

See Answer:(B)

17. Which is/are mutual fund ?

(A) HDFC Top 200(B) HDFC Equity Fund(C) IDFC Small and Mid Cap

(D) All of these

See Answer:(D)

18. The external debt to GDP ratio at the end of September 2011 in India Stands at

(A) 166%

(B) 178%(C) 170%

(D) 184%

See Answer:(B)

19. What is the corpus of RIDF-XVIII ?

(A) Rs. 20,000 crore

(B) Rs. 18000 crore(C) Rs. 16000 crore

(D) Rs. 14000 crore

See Answer:(A)

20. RIDF XVIII is related to..........year.

(A) 2010-11

(B) 2009-10(C) 2012-13

(D) 2011-12

See Answer:(C)Posted byBANKING AWARENESS atFriday, June 08, 20120 comments

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BANKING AWARENESS MCQs

1. For the development of the banking facilities in the rural areas the Imperial Bank of India was

partially nationalised on

(A) June 1, 1940(B) June 1, 1942

(C) July 1, 1955

(D) July 1, 1949

Answer: July 1, 1955

2. The Imperial Bank of India was named as the(A) Reserve Bank of India
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(B) State Bank of India

(C) Union Bank of India

(D) Bank of India

Answer: State Bank of India

3. Which is/are not an associated bank of SBI ?(A) The State Bank of Hyderabad(B) The Union Bank of India

(C) The State Bank of Bikaner and Jaipur

(D) The State Bank of Mysore

Answer: The Union Bank of India

4. In order to have more control over the banks, 14 large commercial banks whose reserves were

more than Rs. 50 crore each were nationalized on(A) 19th July, 1969

(B) 19th July, 1970

(C) 19th July, 1971(D) 19th July, 1972

Answer: 19th July, 1969

5. Which is not a nationalised bank ?(A) Bank of India

(B) Canara Bank

(C) AXIS Bank(D) Vijaya Bank

Answer: AXIS Bank

6. When the Government of India merged the New Bank of India with Punjab National Bank ?(A) Sept. 4, 1993

(B) July 1, 1990

(C) July 1, 1993(D) March 1, 1993

Answer: Sept. 4, 1993

7. Which is the Central Bank of India ?

(A) The Central Bank of India

(B) The State Bank of India

(C) The Reserve Bank of India(D) The Union Bank of India

Answer: The Reserve Bank of India

8. The RBI was established in(A) 1935

(B) 1940

(C) 1947(D) 1949


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Answer: 1935

9. When RBI was set up, the Capital of the Bank was(A) 500 crore

(B) 50 crore

(C) 15 crore(D) 5 crore

Answer: 5 crore

10. The general administration and direction of RBI is managed by a Central Board of Directorsconsisting of

(A) 20 members

(B) 15 members

(C) 5 members(D) 25 members

Answer: 20 members

11. RBI released Rs. 1000 currency note for circulation on

(A) October 1, 1970

(B) July 1, 1980

(C) October 9, 2000(D) October 3, 2011

Answer: October 9, 2000

12. Which of the following instruments cannot be presented for payment in a clearing house ?

(A) Demand draft

(B) Dividends

(C) Fixed deposit receipt(D) All of the above

Answer: Fixed deposit receipt

13. The Security Printing Press at Hyderabad was established in

(A) 1982

(B) 1983(C) 1980

(D) 1950

Answer: 1982

14. Swabhiman Scheme is related

(A) Rich Customers of the Bank

(B) RRBs

(C) To provide basic banking services to bankless villages(D) None of the above

Answer: To provide basic banking services to bankless villages

15. When RBI has decided to circulate Plastic Currency Notes in the market ?


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(A) July 1, 1999

(B) July 1, 2010

(C) July 1, 2011(D) Sept. 1, 2011

Answer: July 1, 2010

16. Which is the measures of credit control ?(A) Quantitative credit control

(B) Qualitative credit control

(C) Budgetary control(D) Both (A) and (B)

Answer: Both (A) and (B)

17. NPAs stands for(A) Net Present Value

(B) Non Preforming Assets

(C) Net Pure Assets(D) Net Permanent Assets

Answer: Non Preforming Assets

18. When was introduced the Differential Rate of Interest (DRI) ?(A) In 1972

(B) In 1990

(C) In 2009(D) In 2011

Answer: In 1972

19. When was addopted, New strategy for Rural Lending : Service Area Approach ?(A) April 1, 1989

(B) March 1, 2007

(C) April 1, 2010(D) April 1, 2011

Answer: April 1, 1989

20. As on June 30, 2010, Which Indian Bank has the maximum number of offices in abroad ?

(A) Bank of India

(B) SBI

(C) Bank of Baroda(D) None of these

Answer: SBI

Posted by BANKING AWARENESS at Friday, June 08, 2012 0 comments


Friday, 25 May 2012

Banking Terms
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AIDB- All India Development Bank

ATM- Automated Teller Machine is a machine uses a computer that verifi es your account

information and PIN (Personal Identification Number) and will dispense or deposit funds per

your request)Annuity- Fixed amount of cash to be received every year for a specified period oftime

Asset/Liability Risk- A risk that current obligations/ liabilities cannot be met with current

assets.

Assets- Things that one owns which have value in financial terms.

Banking Cash Transaction Tax (BCTT) - BCTT is a small tax on cash withdrawal from bank

exceeding a particular amount in a single day

Bank CreditBank Credit includes Term Loans, Cash Credit, Overdrafts, Bills purchased &

discounted, Bank Guarantees, Letters of Guarantee, Letters of credit.

Bank Debits - Sum of the value of all cheques and other instruments charged against the

deposited funds of a banks customer.

Bank Rate - Interest rate paid by major banks if they borrow from RBI, the Central Bank of the

country.

Bank Statement -A periodic record of a customers account that is issued at regular intervals,

showing all transactions recorded for the period in question

Basis Point- Basis Point is one-hundredth of one percentage point (i.e. 0.01%), normally usedfor indicating spreads or cost of finance.

Balance of Payment (BoP)BoP is a statement showing the countrys trade and financialtransactions (all economic transactions), in terms of net outstanding receivable or payable from

other countries, with the rest of the world for a period of time

BR Act - Banking Regulation Act

Cash reserve Ratio (CRR) - CRR is the amount of funds that the banks have to keep with the

RBI. If the central bank decides to increase the CRR, the available amount with the banks comesdown

CAD- current account deficit

Capital Adequacy Ratio (CAR)CRR is a ratio of total capital divided by risk-weighted assets

and risk-weighted off-balance sheet items.

Cash Credit (CC) - An arrangement whereby the bank gives a short-term loan against the self-


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liquidating security

Certificate of Deposit (CD) - CD is a negotiable instrument issued by a bank evidencing timedeposit

Cheque - A written order on a bank instrument for payment of a certain amount of money.

C-D ratio- Credit- Deposit Ratio

Corporate Banking - Banking services for large firms

CRAR - Capital to Risk-Weighted Assets Ratio

Credit Crunch - Fall in supply of credit even though there is sufficient demand for it

Cross default - Two loan agreements connected by a clause that allows one lender to recall the

loan if the borrower defaults with another, and vice versa.

Deposit: A check or cash that is put into your bank account.

Endorse: To sign the back of your check before cashing or depositing it, as proof that you arethe person the check was written out to.

Equitable mortgage - Mortgage under which one still owns the property which is security forthe mortgage. The owner can occupy or live in the property

Exchange Rate - The rate at which one currency may be exchanged for another

FRNs - Floating Rate Notes

Fixed assets - Assets such as land, buildings, machinery or property used in operating a businessthat will not be consumed or converted into cash during the current accounting period

Fixed Rate - A predetermined rate of interest applied to the principal of a loan or creditagreement

IFSC Code - Indian Financial System Code or IFSC code is an eleven character code assigned

by RBI to identify every bank branches uniquely, that are participating in NEFT system in India

LiquidationLiquidation is divestment of all the assets of a firm so that the firm ceases to exist

Liquidity- The extent to which or the ease with which an asset may quickly be converted intocash with the least administrative and other costs

Letter of Credit (LC) - A formal document issued by a bank on behalf of a customer, stating theconditions under which the bank will honour the commitments of the customer


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Line of Credit - pre-approved credit facility (usually for one year) enabling a bank customer to

borrow up to the specified maximum amount at any time during the relevant period of time.

MICR- Magnetic Ink Character Recognition or MICR is the bottom line on all checks. It is

printed using a special font.

Monthly Statement: statement received by customers at the end of the month about the

accounts activity (what went in and what came out) from the previous month.

NEFT- national electronic funds transfer

Non Performing Assets (NPA) - When due payments in credit facilities remain overdue above a

specified period, then such credit facilities are classified as NPA.

NBFCs-Non-banking Finance Companies

NHB- National Housing Bank

Overdraw: To write a check for more money than what is present in the account. Usually there

is a fee (known as NSF/non-sufficient funds)

Principal- Principal is the amount of debt that must be repaid. Also means a person who deals in

securities on his own account and not as a broker

Prime Lending Rate (PLR) - The rate of interest charged on loans by banks to their most

creditworthy customers

PSB - Public Sector Bank

Repo rate- the rate at which the RBI lends money to banks

Reverse repo rate- Reverse Repo rate is the rate at which the RBI borrows money from

commercial banks

SCBs - Scheduled Commercial Banks

Statutory Liquidity Ratio- SLR is Statutory Liquidity Ratio. Its the percentage of Demand andTime Maturities that banks need to have in any or combination of the following forms:

i) Cash

ii) Gold valued at a price not exceeding the current market price,

iii) Unencumbered approved securities (G Secs or Gilts come under this) valued at a price asspecified by the RBI from time to time

Standby Letter of Credit - A guarantee issued by a bank, on behalf of a buyer that protects theseller against non-payment for goods shipped to the buyer


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Securitization - Securitization is a process of transformation of a bank loan into tradable

securities

Selective Credit Control (SCC) - Control of credit flow to borrowers dealing in some essential

commodities to discourage hoarding and black-marketing

Tier 1 Capital - Refers to core capital consisting of Capital, Statutory Reserves, Revenue andother reserves, Capital Reserves (excluding Revaluation Reserves) and unallocated surplus/

profit but excluding accumulated losses, investments in subsidiaries and other intangible assets

Tier 2 Capital - Comprises Property Revaluation Reserves, Undisclosed Reserves, Hybrid

Capital, Subordinated Term Debt and General Provisions. This is Supplementary Capital.

Withdrawal: To take money out of your bank account. To make a withdrawal is the opposite of

making a depositPosted by BANKING AWARENESS at Friday, May 25, 2012 0 comments


BANKING AWARENESS PRACTICE QUESTIONS

1. First Governor of RBI wasa) Hilton Young

b) Paul Samuelson

c) C.D.Deskmukh

d) O.A Smith

Ans. d) O.A Smith

2. At the time of nationalization who was the Governor of RBI-

a) O.A Smithb) J.B Taylor

c) C.D. Deshmukh

d) K.C.Neogy

Ans. c) C.D. Deshmukh

3. The RBI was nationalized in the yeara)1949

b)1956

c)1959

d)1947

Ans. a)1949

4. The general superintendence and director of the bank is entrusted to central board of

directors ofa)10 members

b) 20 members

c) 25 membersd)30 members
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Ans. b) 20 members

5. Paper currencies of our country are issued by RBI undera) Section- 22 of the RBI act -1934

b) Section- 24 of the RBI act -1934

c) Section- 28 of the RBI act -1934d) None of these

Ans. a) Section- 22 of the RBI act -1934

6. One rupee currency notes bear the signature of -a) PM

b) President of India

c) Governor of RBI

d) Finance Secretary of India

Ans. d) Finance Secretary of India

7. Ten rupees notes bear the signature ofa) President

b) Finance Minister

c) Secretary of Ministry of finance

d) Governor of RBI

Ans. d) Governor of RBI

8. Which of the following is the banker of the banksa) IDBI

b) SBI

c) RBI

d)UTI

Ans. c) RBI

9. In which of the following banks one cant open a personal account a) Co-Operative Banks

b) Commercial banks

c) Regional Rural Banksd) RBI

Ans. d) RBI

10. Which of the following banks is the banker to the governmenta) SBI

b) SEBI

c) RBI

d) IRDA

Ans. c) RBI

11. Which of the followings are the function of RBIa) Regulation of currency and flowing of credit system


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b) Maintaining exchange values of rupee

c) Formulating monetary policy of India

d) All of these

Ans. d) All of these

12. Credit rationing in India is done bya) SBIb) LIC

c) UTI

d) RBI

Ans. d) RBI

13. The first bank of India wasa) Bank of Hindusthanb) Imperial Bank

c) Bank of Bengal

d) Oudh Commercial BankAns. a) Bank of Hindusthan

14. The first Indian fully liability and managed bank was a) PNBb) Traders Bank

c) SBI

d) 0 Presidency Bank of India

Ans. a) PNB

15. The rates at which the RBI extends credit to the commercial bank is calleda) Bank Rateb) Reverse Repo Rate

c)Interest Rate

d) None of these

Ans. a) Bank Rate

16. In which of the following is not the any element of monetary policy of RBIa) Bank rate

b) Open Market Operation

c) Public Expenditure

d) All of these

Ans. c) Public Expenditure

17. 100 rupees note bears the signature ofa) Governor of RBIb) PM

c) Finance Secretary of India

d) Chairman of Finance Commission

Ans. a) Governor of RBI


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18. Which of the following is the last lender of the last resort of commercial bank- a) SBIb) Union Govt.

c) RBI

d) UTIAns. c) RBI

19. The RBI is agent of central government and of all state government excepta) Biharb) Goa

c) Jammu and Kashmir

d) Mizoram

Ans. c) Jammu and Kashmir

20. Controller of credit of commercial banks in our country is

a) RBIb)SEBI

c) ICI

d)UTI

Ans. a) RBI

21. The Banking Concept in India was first developed bya) Britishb) French

c) Indian

d) None of these

Ans. a) British

22. The rate at which RBI gives short term credit to the commercial banks against

government securities with buy back provision is calleda) Bank Rate

b) Repo Rate

c) Reverse repo rated) Interest rate

Ans. b) Repo Rate

23. The rate at which RBI takes loans from commercial banks is calleda) Repo Rate

b) Reverse Repo Rate

c) Bank Rate

d) Interest Rate

Ans. b) Reverse Repo Rate

24. At present the Reverse Repo Rate of RBI is (As of 25th Nov)a) 8.25


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b) 7.25

c) 7.50

d)8.50

Ans. d)8.50

25. Bank rate of RBI is also known asa) Interest Rateb) Discount Rate

c) fed rate

d) bid rate

Ans. b) Discount Rate

26. Which of the following is not the any element of quantitative credit control policy of

RBIa) CRR

b) SLR

c) Selective credit controld) open market operation.

Ans. c) Selective credit control

27. At present CRR of RBI isa) 6%

b) 7.5%

c) 8.5%d) none of these

Ans. a) 6%

28. The limitation of CRR of RBI isa)3-10 %

b) 3-15%

c) 15-38%d) 10-25%

Ans. b) 3-15%

29. The apex organization of Indian money market isa)SBI

b) SEBI

c) RBId) IRDA

Ans. c) RBI

30. If the cash reserve is lowered by RBI, what will be its effect on credit creation a) Decrease

b) Increase

c) No Changed) None of these


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Ans. b) Increase

31. The expansion of money supply of an economy depends ona) The policy of CRR

b) The bank rate policy

c) Open market operationd) All of these

Ans. d) All of these

32. Among the following who are eligible to benefit from the Mahatma Gandhi National

Rural Employment Guarantee Act?a) Adult Members of only the scheduled caste and scheduled tribe holders

b) Adult of below poverty line household

c) Adult members of household of all backward communityd) adult members of any rural household

e) None of these

Ans. d) adult members of any rural household

33. Which of the following banks merged with Punjab national banks in 1993 a) New bank of India

b) Central Bank of Indiac) Imperial Bank of India

d) Common bank of India

Ans. a) New bank of India

34. A currency, the exchange values of which is expected to remain stable due to strong

performance by its economy. This currency is a) Soft Currencyb) Hot currency

c) Fiat currency

d) None of these (Hard Currency)

Ans. d) None of these (Hard Currency)

35. The Reserve Bank of India issues under the following note issue method? a) Proportional Reserve System

b) Minimum Reserve System

c) Maximum Reserve System

d) Fixed Fiduciary System

Ans. b) Minimum Reserve System

36. What is a Scheduled Bank?a) A bank having Rs 10 Crore depositsb) A bank having Rs 100 Crore deposits

c) A bank having Rs 5 Crore deposits

d) A bank included in the second schedule of RBI act 1934.

Ans. d) A bank included in the second schedule of RBI act 1934.


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37. How many languages are used on a Ten Rupee note? a) 2b) 7

c) 10

d) 15e) 16

Ans. d) 15

38. The place where bankers meet and settle their mutual claims and accounts is known as

a) Treasury

b) Clearing House

c) Dumping Housed) Collection centre

Ans. b) Clearing House

39. The largest Public sector bank in Indiaa) SBI

b) PNB

c) RBId) ICICI

Ans. a) SBI

40. Which of the following is not the function of RBIa) Bankers bank

b) Banker to public

c) custodian of foreign exchanged) Bankers to Govt.

Ans. b) Banker to public

41. Who is responsible for the collection and publication of monetary and financial

information-

a) Finance Commissionb) Finance ministry

c) RBI

d) Auditor and Comptroller general of India

Ans. c) RBI

42. Which of the following regulatory authority to oversee the new issues, protect the

investment and investors, promote the development of Capital Market and regulate the

working of Stock Exchangea) UTI b) IRDA

c) RBI

d) SEBIe) None of these


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Ans. d) SEBI

43. After a long span of 22 years, RBI released Rs.1000/- currency note for circulation in a) 2000

b) 2002

c) 2005d) 2008

Ans. a) 2000

44. Regional Rural banks are working in all states of the country except a) Sikkim and Goa

b) Sikkim and Manipur

c) Manipur and Nagaland

d) Jammu and Kashmir

Ans. a) Sikkim and Goa

45. The National Housing Bank is a subsidiary ofa) RBI

b) NABARD

c) IDBI

d) UTI

Ans. a) RBI

46. At present the ceiling of Foreign Direct Investment (FDI) in insurance sector in India is

a) 26%

b) 49%

c) 51%d) 74%

Ans. a) 26%

47. Rs. 25 Paisa was ceased by the Govt of India ona) 30th june 2011

b) 30th July 2011c) 1st January 2011

d) 1st July 2011

Ans. a) 30th june 2011

48. Initial Public Offering (IPO) is associated witha) RBI

b) Stock Exchange

c) IRDAd) Indian Postal Service

Ans. b) Stock Exchange

49. The Basic regulatory authority for mutual funds and stock markets lies with the


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a) Government of India

b) Reserve Bank of India

c) Securities and Exchange Board of India (SEBI)d) Stock Exchange

Ans. c) Securities and Exchange Board of India (SEBI)

50. Monetary policy Referes to the policy ofa) Money Lenders

b) Government

c) Commercial Banksd) RBI

Ans. d) RBIPosted by BANKING AWARENESS at Friday, May 25, 2012 0 comments


Friday, 18 May 2012

Bank Accounts with Zero Balance

With a view to achieve the objective of greater financial inclusion, the Reserve Bank of India (RBI) issued instructions to all Scheduled Commercial Banks

in November 2005, to make available a basic banking no-frills account either with nil or very low minimum balances as well as charges that wouldmake such accounts accessible to vast sections of population. As per RBI, the number of no-frills accounts outstanding with Public Sector Banks(excluding Regional Rural Banks) and Private Sector Banks at end of March 2012, is 1032.06 lakhs.

Posted by BANKING AWARENESS at Friday, May 18, 2012 0 comments


Functioning of RRBs

The Government reviews the performance of Regional Rural Banks (RRBs) on an ongoing basis. The Committee constituted by Government under thechairmanship of Dr. K.C. Chakrabarty on Capital to Risk Weighted Assets Ratio (CRAR) has reviewed the performance and the financial position of

Regional Rural Banks (RRBs). After assessment of financial position of RRBs the Committee in April, 2010 inter-alia recommended recapitalization of 40RRBs to improve their CRAR.

In view of the recommendations of Dr. Chakrabarty Committee, an amount of Rs. 66.49 crore was released to 5 RRBs during 2010-11 and Rs.402.43 crore

has been release to 19 RRBs during 2011-12 as the release of Central Government share is subject to the release of proportionate share by concerned StateGovernment and sponsor bank.

As per information reported by NABARD, the total loan issued by RRBs have increased from Rs.56,079 crore during 2009-10 to Rs.71,724.19 croreduring 2010-11 registering a growth of 27.89%.Posted by BANKING AWARENESS at Friday, May 18, 2012 0 commentsEmail ThisBlogThis!Share to TwitterShare to Facebook

Agricultural CreditThe Government has taken several policy measures from time to time to increase the availability of credit to the rural areas in general and farmers in

particular. These inter-alia include the following:

In terms of Reserve Banks extant guidelines on lending to priority sector, a target of 40 per cent of Adjusted Net Bank Credit (ANBC) or Credit

Equivalent amount of Off-Balance Sheet Exposures (OBE), whichever is higher, as on March 31 of the previous year, has been mandated for lending to thepriority sector by domestic scheduled commercial banks, both in the public and private sector. Within this, a sub-target of 18 per cent of ANBC of Credit

Equivalent amount of OBE, whichever is higher, as on March 31 of the previous year, has been mandated for lending to agriculture sector.

The Government has been setting an annual target for the flow of credit to the agriculture sector. The agriculture target for 2012-13 is fixed at Rs.5,75,000

crore against the target of Rs.4,75,000 crore in 2011-12.
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The Interest Subvention Scheme is being implemented by the Government of India since 2006-07 to make short-term crop loans upto Rs.3 lakh for aperiod of one year available to farmers at the interest rate of 7 per cent per annum. The Government of India has since 2009-10 been providing additional

interest subvention to prompt payee farmers. The additional subvention was 1% in 2009-10, 2% in 2010-11 and 3% in 2011-12. The Government has in theBudget speech of 2012-13 announced continuation of the scheme in 2012-13.

RBI has also advised banks to waive margin/security requirements for agricultural loans upto Rs.1,00,000.

The Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS), 2008 was implemented by the Government. This Scheme has de-clogged the lines of

credit that were clogged due to the debt burden on the farmers and make the farmers eligible for fresh loans. Under the scheme Rs.52,275.55 crore has beenreleased by the Government through RBI and NABARD to give benefit to 3.45 crore farmers.

Banks have been advised to issue Kisan Credit Cards (KCC) to all eligible farmers and General Credit Cards (GCC) to non-farmers. A new scheme for

KCC has been circulated by NABARD which provides for KCC as an ATM card which can be used at ATM/ Point of sale (POS) terminals.

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