Which of the following statements is/are correct regarding the "Modified Interest Subvention Scheme (MISS)" extended by the Reserve Bank of India (RBI) for the Financial Year 2024-25?
- The Modified Interest Subvention Scheme (MISS) is extended for short-term loans for agriculture and allied activities availed through Kisan Credit Card (KCC).
- Under the scheme, farmers can avail of loans up to Rs 5 lakh at a concessional interest rate of 7%.
- Farmers who repay their loans on time are eligible for an additional interest subvention of 3% per annum.
1
Only 1 and 3 are correct
2
Only 2 and 3 are correct
3
Only 1 and 2 are correct
4
All 1, 2, and 3 are correct
5
Only 1 is correct