- Agricultural Credit – It is the amount of investment funds in the form of loans, notes, bills of exchange, banker’s acceptance etc. made available for agricultural production from resources outside the farm
- Interest Waiver – It is an act of removing a real or potential liability of the farmer towards the repayment of interest on agricultural
- Primary Agricultural Credit Society (PACS) – It is a basic unit and smallest co-operative credit institutions in It works on the grassroots level (gram panchayat and village level).
- Core Banking System – A core banking system is the software used to support a bank’s most common transactions. Elements of core banking include making and servicing loans, opening new accounts, processing cash deposits and withdrawals, processing payments and cheques, maintaining records for all the bank’s transactions,
- Agricultural Insurance – The agricultural insurance is meant to protect farmers, ranchers & others against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural
- Pradhan Mantri Fasal Bima Yojana (PMFBY) – The PMFBY was launched on 18 February 2016. It envisages a uniform premium of only 2% to be paid by farmers for Kharif crops, and 1.5% for Rabi crops. The premium for annual commercial and horticultural crops is 5%.
- Agriculture Insurance Company of India Limited (AIC) – It was incorporated under the Indian Companies Act 1956 on 20th December, 2002. The AIC commenced its business from 1st April, AIC took over the implementation of National Agricultural Insurance Scheme (NAIS) which, until FY 2002-03 was implemented by General Insurance Corporation of India. In addition, AIC also transacts other insurance businesses directly or indirectly concerning agriculture and its allied activities.
- Agricultural Extension Service – Agricultural extension is the application of scientific research and knowledge to agricultural practices through farmer education. Generally, agricultural extension can be defined as the “delivery of information inputs to ”
- Krishi Vigyan Kendra (KVK) – These are agricultural extension centres created by Indian Council for Agricultural Research (ICAR) and its affiliated institutions at district level to provide various types of farm support to the agricultural sector. The first KVK was established during 1974 in Pondicherry. KVKs provide several farm support activities like providing technology dissemination to farmers, training, awareness etc. To achieve the set objectives KVKs undertake following types of activities in the adopted villages: (1) Farm Advisory Service (2) Training programme for different categories of people. (3) Training programme for the extension functionaries. (4) Front Line Demonstration (Fill) (5) On Farm Testing (OFT).
- Soil Health Card Scheme – This scheme was launched by the government in February 2015. Under the scheme soil cards are issued to farmers which carry crop-wise recommendations of nutrients and fertilizers required for the individual farms to help farmers to improve productivity through judicious use of All soil samples are tested in various soil testing labs across the country. Thereafter the experts analyse the strength and weaknesses (micro-nutrients deficiency) of the soil and suggest measures to deal with it. The result and suggestion are displayed in the cards.
- Agricultural Marketing – It is mainly the buying and selling of agricultural products. Today’s agricultural marketing has to undergo a series of exchanges or transfers from one person to another before it reaches the consumer. There are three marketing functions involved in this, e., assembling, preparation for consumption and distribution. Selling any agricultural produce depends on some couple of factors like the demand of the product at that time, availability of storage, etc.
- e-NAM – National Agriculture Market (NAM) is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural The NAM Portal provides a single window service for all APMC related information and services. This includes commodity arrivals & prices, buy & sell trade offers, provision to respond to trade offers, among other services. While material flow (agriculture produce) continues to happen through mandis, an online market reduces transaction costs and information asymmetry.
- Agricultural Produce Marketing Committee (APMC) – An Agricultural Produce Market Committee (APMC) is a marketing board established by a state APMC operate on two principles: (a) ensure that farmers are not exploited by intermediaries (or money lenders) who compel farmers to sell their produce at the farm gate for an extremely low price and (b) all food produce should first be brought to a market yard and then sold through auction.
-
Contract farming – It is a system of contractual production of agricultural raw produce by the farmer for procurement by private companies who process and sell it further.