Interest subvention scheme was launched to make available agricultural credit for short term crop loans at an affordable rate to give boost to agriculture productivity and production in the country. The salient features of the scheme are as follows:
It provides concessional of 2% per annum for crop loans to farmers, upto Rs. 3 lakh at 7% rate of interest.
- An additional interest subvention of 3 per cent per annum is available to the “prompt payee farmers.
- Interest subvention will be available to Public Sector Bank, Private Sector Bank and to NABARD for providing concessional refinance to RRBs and Cooperative Banks.
- The Scheme is provided for four segments namely;
o Interest subvention for short term crop loans.
o Interest subvention for post-harvest loans.
o Interest subvention under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
o Interest subvention for relief to farmers affected by natural calamities.
MPPCS Notes brings Prelims and Mains programs for MPPCS Prelims and MPPCS Mains Exam preparation. Various Programs initiated by MPPCS Notes are as follows:-
- MPPCS Mains 2024 Tests and Notes Program
- MPPCS Prelims Exam 2024- Test Series and Notes Program
- MPPCS Prelims and Mains 2024 Tests Series and Notes Program
- MPPCS Detailed Complete Prelims Notes