Tue, Apr 21, 2020
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
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Tue, Apr 11, 2017
Farmers get short-term crop loans of up to Rs 3 lakh at subsidised interest of 7% per annum. For prompt repayment, they get additional incentive of 3%, making the effective interest rate 4%.
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