Farm loan latest news! Incentives extended to farmers for crop loans
The Reserve Bank of India (RBI) has issued an advisory asking banks to extend the benefit of interest subvention (IS) of 2 percent and Prompt Repayment Incentive (PRI) of 3 per cent for short term crop loans upto Rs 3 lakh to farmers whose accounts have become due or shall become due between March 1, 2020 and May 31, 2020
Advisory on extension of interest subvention and Prompt Repayment Incentive schemes for short term crop loans availed during the financial years 2018-19 and 2019-20. Source: Reuters