In order to provide credit to farmers at affordable interest rates, the Government of
The Government of
The additional subvention was increased to 2% in 2010-11 and 3% from 2011-12 onwards.
The Interest Subvention Scheme has also been extended to the private sector commercial banks (in respect of short term crop loans disbursed by their rural and semi-urban branches) from the year 2013-14.
Thus effective rate of interest payment by the farmers who repay their loan in time is presently 4%.
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