Cabinet approves interest subsidy scheme for farmers
Posted on: 06/Jul/2016 10:31:49 AM
Farmers can get short-term loan of up to Rs 3 lakh for a period of one year at an interest rate of 7 percent. The Union Cabinet on Tuesday approved a proposal to extend a two percent interest grant scheme to banks for the current fiscal to ensure farmers get short-term crop loans up to Rs 3 lakh at seven percent.
Those repaying on time get the loan at 4 per cent. All the farmers are eligible for the scheme.
