Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers
Posted on:15 Jun 2017 09:59:59
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15 June 2017 Current Affairs:
The Union cabinet approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18.
The Government has allocated Rs. 20,339 crore for this scheme.
The objective of the scheme is to make the available agricultural credit for Short Term crop loans at an affordable rate. The scheme is expected to boost agricultural productivity and production in the country.
The scheme will be continued for 1 year and will be implemented by Reserve Bank Of India (RBI) and National Bank For Agriculture & Rural Development (NABARD).
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