Rajasthani Government Launches Interest Subvention Program

A ground-breaking interest subvention program has been launched by the Rajasthani government. The goal of this program is to help farmers by making them more financially accessible. Important interest subsidies on loans for both agriculture and non-agriculture are offered under the program. It seeks to raise farmers' incomes and agricultural production.

Sahakar Kisan Kalyan Yojana: Granting agricultural dependency and concessional interest.

• Crop loans amounting to Rs. 100,000 are given to farmers at an interest of 7% below the bank rate.
• Non-agricultural credits are 5% subsidized, and the interest rate becomes 3.5% for this credit.
• Loans are especially used for the following agricultural uses: deep tube wells, drip irrigation, and land leveling.
• The arrangement guarantees loan acquisition through cooperative banks and enhances timely repayments.
• Then, ?39.75 crore has been earmarked as the interest subsidy.
• On the same note, the scheme is likely to enhance the capacity of the cooperative banks to extend the existing cover of performance to the farmers.
• It has called for a one-time settlement scheme to improve cooperative banks’ financial position and to address delinquent borrowers.