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Interest subvention to continue to government banks
August 5, 2013August 5, 2013by In Infrastructure Finance

Interest subvention to continue to government banks

The Union Cabinet on August 2 approved continuation of the interest subvention scheme to provide short-term crop loans to farmers in order to ensure the availability of crop loans at affordable rates to farmers for loans upto Rs 3 lakh at the rate of 7 per cent per annum. This scheme has already been extended to crop loans borrowed from private sector scheduled commercial banks in respect of loans given within the service area of the branch concerned.