March 24, 2025 10:24 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Allahabad HC directs Centre to decide on Rahul Gandhi's dual citizenship row by April 21 | Nagpur communal violence: Suspected mastermind Fahim Khan's house faces bulldozer action | Habitat Studio announces shutdown after Shinde-led Shiv Sena's vandalism over Kunal Kamra's show | Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | MK Stalin hosts mega multi-state meeting on delimitation in Chennai, BJP calls it drama | Cash pile accused Justice Yashwant Varma was named in CBI's FIR for alleged corruption, SC junked it later | London: Heathrow Airport resumes operation after substation fire causes power disruption | Bangladesh interim government not planning to ban Sheikh Hasina's Awami League | Fire at Delhi HC judge's house leads to recovery of unaccounted cash, SC collegium acts

Cabinet approves interest waiver for the two months of November and December

| | Jan 24, 2017, at 09:53 pm
New Delhi, Jan 24 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval for interest waiver for the two months of November and December, 2016 for farmers accessing short term crop loans from Cooperative Banks.

The decision also provides for interest subvention to National Bank for Agricultural and Rural Development (NABARD) on additional refinance by NABARD to Cooperative Banks, read a government statement.

Farmers in the whole of India availing short term crop loans, from Cooperative Banks will be benefitted.

The decision intends to ensure availability of resources with Cooperative Banks help farmers in easily accessing crop loans from Cooperative Banks to overcome the difficulties in view of the reduction in availability of cash for carrying out Rabi operations.

Additional resources are to be provided to Cooperative Banks through NABARD for refinance to the Cooperative Banks on account of interest waiver of two months for November and December, 2016.

This will be extended by Cooperative Banks to the farmers in the current financial year 2016-17.

An additional financial liability of Rs. 1060.50 crore will be required for this purpose. A sum of Rs. 15, 000 crore allocated during 2016-17 to implement the Interest Subvention Scheme (ISS) has already been utilised.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm