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Govt nod to ₹15.6K cr for farm loan interest subsidy
Financial Express Kochi
|May 29, 2025
THE UNION CABINET on Wednesday approved ₹15,642 crore for providing interest subsidy to farmers on working capital loans for the current fiscal.
Under this Modified Interest Subvention Scheme (MISS), farmers taking short-term loans of up to ₹3 lakh through Kisan Credit Cards (KCC) will have to pay just 7% interest, including 1.5% interest subvention.
Additionally, farmers repaying loans promptly are eligible for an incentive of up to 3% as Prompt Repayment Incentive (PRI) effectively reducing their interest rate on KCC loans to 4%.
For loans taken exclusively for animal husbandry or fisheries, the interest benefit is applicable for up to ₹2 lakh, according to a statement issued after the meeting of the Cabinet. There are more than 77.5 million KCC accounts in the country.
Esta historia es de la edición May 29, 2025 de Financial Express Kochi.
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