The government will release Rs 10,901 crore to state-run banks to enable interest subvention for short-term crop loans up to Rs 3 lakh to farmers for the current financial year. On Thursday’s cabinet meeting, chaired by the Prime Minister, decided this.
Public sector banks (PSBs) provide such a subvention to enable short-term crop loans at seven per cent interest. Also, a three per cent subvention is given to those who start repaying their loans within the first year of disbursal.
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Links:
[1] http://admin.indiaenvironmentportal.org.in/news/rs-11000-cr-cleared-crop-loan-waiver
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard-new-delhi
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/crops
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/farmers
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/national-bank-agriculture-and-rural-development-nabard
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/agriculture
