Daily Current Affairs : 20-October-2023

In a pivotal move towards bolstering financial inclusion and supporting the fisheries sector, the Secretary (Fisheries) led a crucial meeting centered around the ‘Ghar-Ghar KCC Abhiyaan.’ This campaign marks a significant leap in ensuring financial access to farmers across India and fortifying the agricultural backbone of the nation.

Ghar-Ghar KCC Abhiyaan: A Gateway to Financial Inclusion
  • The ‘Ghar-Ghar KCC Abhiyaan’ is a visionary initiative aimed at extending the benefits of the Kisan Credit Card (KCC) Scheme to every farmer in India.
  • Its primary objective is to achieve universal financial inclusion, ensuring that every farmer has unimpeded access to credit facilities that fuel their agricultural pursuits.
  • The campaign focuses on empowering farmers by providing them with Kisan Credit Cards, enabling them to procure essential agricultural inputs like seeds, fertilizers, and pesticides. Farmers can also withdraw cash for their production needs, ensuring a seamless agricultural cycle.
Role of NABARD: Spearheading the Initiative
  • NABARD, the National Bank for Agriculture and Rural Development, has been designated as the Primary Executing Organization for the KCC Ghar Ghar Abhiyaan.
  • NABARD holds the responsibility for the comprehensive execution and monitoring of the program, ensuring its smooth implementation across the country.
  • By entrusting NABARD with this crucial role, the initiative gains a strong foundation, benefiting from the organization’s expertise in rural development and financial empowerment.
Kisan Credit Card (KCC) Scheme: A Catalyst for Agricultural Growth
  • The Kisan Credit Card Scheme was introduced in 1998 with the objective of issuing Kisan Credit Cards to farmers based on their holdings.
  • Under this scheme, various financial institutions such as Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, and Cooperatives work in tandem to provide farmers with credit facilities.
  • Farmers can utilize these credit cards to purchase essential agricultural inputs, facilitating their farming activities. The scheme ensures that farmers have easy access to financial resources, allowing them to invest in their agricultural ventures and enhance productivity.

Important Points:

  • Ghar-Ghar KCC Abhiyaan: A Gateway to Financial Inclusion
    • Visionary initiative to extend benefits of Kisan Credit Card (KCC) Scheme to every farmer in India.
    • Objective: Achieve universal financial inclusion, ensuring unimpeded access to credit facilities for agricultural pursuits.
    • Empowers farmers by providing Kisan Credit Cards, enabling purchase of essential agricultural inputs and cash withdrawals.
  • Role of NABARD: Spearheading the Initiative
    • NABARD (National Bank for Agriculture and Rural Development) designated as Primary Executing Organization.
    • Responsible for comprehensive execution and monitoring of the program nationwide.
    • Benefits from NABARD’s expertise in rural development and financial empowerment.
  • Kisan Credit Card (KCC) Scheme: A Catalyst for Agricultural Growth
    • Introduced in 1998 for issuing Kisan Credit Cards to farmers based on their holdings.
    • Implemented by Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, and Cooperatives.
    • Farmers utilize credit cards to purchase agricultural inputs, enhancing farming activities and productivity.
Why In News

In a significant step towards enhancing financial inclusion and support for the fisheries sector, the Secretary (Fisheries) chaired a pivotal meeting focusing on the ‘Ghar-Ghar KCC Abhiyaan,’ aiming to provide comprehensive financial services to every household, fostering economic growth and sustainability in the fisheries sector.

MCQs about Ghar-Ghar KCC Abhiyaan

  1. Ghar-Ghar KCC Abhiyaan aims to:
    A. Promote urban agriculture
    B. Extend benefits of Kisan Credit Card Scheme to every farmer in India
    C. Improve healthcare facilities in rural areas
    D. Enhance infrastructure development in villages
    Correct Answer: B. Extend benefits of Kisan Credit Card Scheme to every farmer in India
    Explanation: The primary objective of the Ghar-Ghar KCC Abhiyaan initiative is to extend the benefits of the Kisan Credit Card Scheme to every farmer in India, ensuring universal financial inclusion.
  2. Which organization is the Primary Executing Organization for the KCC Ghar Ghar Abhiyaan?
    A. RBI (Reserve Bank of India)
    B. NABARD (National Bank for Agriculture and Rural Development)
    C. WHO (World Health Organization)
    D. SEBI (Securities and Exchange Board of India)
    Correct Answer: B. NABARD (National Bank for Agriculture and Rural Development)
    Explanation: NABARD has been designated as the Primary Executing Organization for the KCC Ghar Ghar Abhiyaan, responsible for the execution and monitoring of the program.
  3. What is the purpose of the Kisan Credit Card (KCC) Scheme introduced in 1998?
    A. Issuing passports to farmers
    B. Providing free agricultural education
    C. Issuing credit cards to farmers for purchasing agricultural inputs and cash withdrawals
    D. Distributing smartphones to farmers
    Correct Answer: C. Issuing credit cards to farmers for purchasing agricultural inputs and cash withdrawals
    Explanation: The Kisan Credit Card (KCC) Scheme was introduced to issue credit cards to farmers based on their holdings, allowing them to purchase essential agricultural inputs and withdraw cash for their production needs.
  4. How does the Ghar-Ghar KCC Abhiyaan empower farmers?
    A. By providing free agricultural land
    B. By offering scholarships to farmers’ children
    C. By granting Kisan Credit Cards, enabling purchase of agricultural inputs and cash withdrawals
    D. By distributing food supplies to farmers
    Correct Answer: C. By granting Kisan Credit Cards, enabling purchase of agricultural inputs and cash withdrawals
    Explanation: The Ghar-Ghar KCC Abhiyaan empowers farmers by providing them with Kisan Credit Cards, allowing them to procure essential agricultural inputs like seeds, fertilizers, and pesticides. Farmers can also withdraw cash for their production needs, ensuring a seamless agricultural cycle.

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