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Consider the following statements:


Statement-I:

Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.

Statement-II:

PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.

Which one of the following is correct in respect of the above statements?

  • a)
    Both Statement-I and Statement-II are correct and Statement-II explains Statement-I

  • b)
    Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I

  • c)
    Statement-I is incorrect, but Statement-II is correct

  • d)
    Statement-I is correct, but Statement-II is incorrect

Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements:Statement-I:Primary Agricultural Cre...
Explanation:

Statement-I:
- PACS in India primarily provide short-term credit to farmers for various agricultural activities such as buying seeds, fertilizers, pesticides, etc.
- They do not generally provide long-term loans to farmers.

Statement-II:
- PACS were indeed first established in 1904 in India.
- Currently, there are more than 1,00,000 functional PACS in the country, which shows the widespread presence and importance of these institutions in rural credit delivery.
Therefore, the correct answer is option 'C' as Statement-I is incorrect while Statement-II is correct.
Free Test
Community Answer
Consider the following statements:Statement-I:Primary Agricultural Cre...
Statement-I is partially correct as PACS primarily provide short-term and medium-term agricultural loans to farmers for various agricultural and farming activities, not long-term loans. Statement-II is incorrect as it states that there are more than 1,00,000 functional PACS in the country, but the provided data mentions that currently, only 65,000 of them are functional, not over 1,00,000. Therefore, the correct answer is option (C).
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Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Consider the following statements:Statement-I:Primary Agricultural Credit Societies (PACS) in India provide long-term loans to farmers for various agricultural activities.Statement-II:PACS in India were first established in 1904 and currently, there are more than 1,00,000 functional PACS in the country.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is incorrect, but Statement-II is correctd)Statement-I is correct, but Statement-II is incorrectCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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