Module: | Priority Sector, Consumer Protection & Digital Lending
Q138: With reference to agricultural advances, which of the following statements are correct?
1. The specific "crop season" for each crop in a State is determined by the State Level Bankers' Committee (SLBC).
2. "Long duration" crops are defined as those with a crop season longer than one year.
3. "Short duration" crops are those with a crop season of 18 months or less.
2. "Long duration" crops are defined as those with a crop season longer than one year.
3. "Short duration" crops are those with a crop season of 18 months or less.
✅ Correct Answer: B
The correct answer is B. Statement 1 is correct: The specific "crop season" for each crop in a State is determined by the State Level Bankers' Committee (SLBC) based on local agricultural conditions.
Statement 2 is correct: As per RBI guidelines on agricultural advances, "long duration" crops are explicitly defined as those with a crop season longer than one year.
Statement 3 is incorrect: "Short duration" crops are officially defined as those with a crop season of one year or less, not 18 months.
Therefore, only statements 1 and 2 are accurate.
Statement 2 is correct: As per RBI guidelines on agricultural advances, "long duration" crops are explicitly defined as those with a crop season longer than one year.
Statement 3 is incorrect: "Short duration" crops are officially defined as those with a crop season of one year or less, not 18 months.
Therefore, only statements 1 and 2 are accurate.