December 2016 Current Affairs

November 2016 Current Affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS

October 2016 Current Affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current Affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current Affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS

Union Cabinet Approves Interest Subvention Scheme for farmers for year 2016-17

Union Cabinet Approves Interest Subvention Scheme for farmers for year 2016-17
06 July 2016 Current Affairs: The Union Cabinet has approved the Interest Subvention Scheme for farmers for the year 2016-17.  For this purpose Union Government has earmarked a sum of 18,276 Crore Rupees. 

The scheme will help farmers getting short term crop loan payable within one year up to 3 lakhs Rupees at only 4% per annum. Interest subvention for providing short term crop loan to farmers has been provided to Public Sector, Private Sector, Cooperative, Regional Rural banks and NABARD.

Features : Union Government will provide interest subvention of 5% per annum to all farmers for short term crop loan up to 1 year for loan upto 3 lakhs rupees for year 2016-17. Thus farmers will have to effectively pay only 4% as interest. In case they fail to repay loan in time they would be eligible for interest subvention of 2% as against 5% available above.

 Union Government will provide an interest subvention of 2% i.e an effective interest rate of 7% for loans upto 6 months to give relief to small and marginal farmers who borrow at 9% for the post-harvest storage of their produce. The interest subvention of 2% will be provided to Banks for the first year on the restructured amount in order to provide relief to the farmers affected by natural calamities.

Interest subvention is a form of waiver of some percentage of interest on loan given to promote some particular industry and general public interest. This implies that with the subsidy in hand, the loan borrower has not to pay total interest on loan amount and the balance interest amount will be borne by the government.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2016 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.