Reserve Bank has stated that interest subsidy scheme on short-term crop loans of up to three lakh rupees will be implemented through the Direct Benefit Transfer (DBT) mode from the current financial year.
The Centre has earmarked 15,000 crore rupees for 2018-19 towards interest subvention for short-term crop loans. The notification adds that the scheme will be required to be settled as applicable in Plan Scheme namely Scheduled Caste, Scheduled Tribe and North East Region among others.
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- Direct Benefit Transfer was started on 1st January 2013.
- The first phase of DBT was initiated in 43 districts.
- RBI was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
Source- The Indian Express