Farmers who have taken short-term crop loans will get time till May 31 to repay the loan without losing the benefit of interest subvention and other additional incentives offered by the government on timely repayment, an official statement said here on Monday.
Taking into consideration the problems faced by farmers because of the nation-wide lockdown, the government has decided to extend the benefit of 2 per cent interest subvention to banks and 3 per cent incentive on prompt repayment to all farmers up to May 31 for all crop loans up to ₹3 lakh given by banks which have become due or are becoming due between March 1 and May 31 this year, the statement said.
Farmers are facing difficulty in going to bank branches due to the lockdown and because of timely sale and receipt of payment of their produce.
The decision would make it possible for farmers to enjoy the effective interest rate of 4 per cent on crop loans up to ₹3 lakh for an extended period without attracting any penalty, it said.
Source; BL
Posts
Hello,
Welcome to "Agrovista Profits"
“Agrovista Profits” is a nonprofitable portal. A peer- Friend for the agriculture news, Agriculture news Blogs, agriculture research and development activities, Agriculture Business, and agriculture allied services. Agrovista Profits is an open-access Portal for opinion formers, decision makers, policy makers and above all the farmers.
We are committed for providing the selected info 24X7 about the agriculture and allied sector and assure you that
“ Agrovista Profits “ will always remain clear, unbiased and factual accounts of development in, or affecting, world agriculture and food security. They will interpret the influence of related aspects (which will remain embedded by the aspects like; Agriculture technology, Agriculture Business, Agriculture news climate, forestry, fisheries and, Agri - economics, Agri - ecology) on these developments. An important objective is to assist decision-makers to ensure policies and methods are evidence-based and sustainable.
1 comment:
A Loan isn't so simple of getting the loan quickly with a time of intense problem so choose a quick secured loan that's acquirable. www.nowloan.co.uk
Post a Comment