Farmers get additional 60 days to repay crop loans: RBI

In a relief to farmers hit by demonetisation, the Reserve Bank of India (RBI) has given an additional 60 days to repay their crop loans due in November-December and prompt repayment would be eligible for the extra 3% interest subsidy. 

The government has been implementing the Interest Subvention Scheme since 2006-07. As per the scheme for the year 2016-17 besides subvention of 2% per annum, an additional interest subvention of 3% is also provided to prompt payee farmers from the date of disbursement of the crop loan

Source-The Hindu


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