Crop loans News

The Kisan Credit Card Scheme aims at providing adequate and timely credit support from the banking system under a single window.

There is also a proposal to completely waive premium for taking insurance policy for food crops. The premium on horticultural crops could also be reduced, they said.

Punjab Chief Minister Amarinder Singh on Monday announced total waiver of entire crop loans for small and marginal farmers in Punjab.

The government on Wednesday approved higher support price of 14 kharif crops including paddy and pulses in a bid to provide comfort to farmers who begin sowing in full swing from next month.

In a major thrust to agriculture, Finance Minister Arun Jaitley on Wednesday announced a whopping Rs 1 lakh crore hike in the credit target for the next fiscal to Rs 10 lakh crore as part of the government's efforts to double farm incomes in the next five years.

The Cabinet on Tuesday gave its ex-post facto approval to interest waive-off to farmers for November and December.

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In a major relief to farmers, they will now have 60 more days to repay their crop loans due for November-December as the Reserve Bank of India (RBI) on Monday gave them an additional time to repay.

The Union Cabinet on Tuesday approved a proposal to extend a three percent interest subvention scheme to banks for the current fiscal to ensure farmers get short-term crop loans up to Rs 3 lakh at seven percent interest.

The government on Monday said it has released Rs 11,281 crore between April and July to NABARD to pay interest subvention claims to banks for short-term crop loans of up to Rs 3 lakh to farmers.

The government on Tuesday extended the interest subvention scheme to banks to ensure availability of crop loans of up to Rs 3 lakh to farmers at 7 percent per annum.

Government Wednesday approved the continuation of interest subvention for short-term crop loans up to Rs 3 lakh to farmers at 7 percent per annum.