PM Kisan Latest News: For the current and following fiscal years, the Central Government has approved the continuance of the interest subsidy programme for short-term loans up to Rs 3 lakh made through the Kisan Credit Card for use in agricultural and other related activities.
Credit Card from Kisan: There is excellent news from the government for you if you are a farmer. Millions of farmers have received good news from the government ahead of the 13th instalment of the PM Kisan Samman Nidhi and the 2024 Loksabha Election. This government statement will be beneficial to all 14 crore farmers in the nation. For the current and following fiscal years, the Central Government has approved the continuation of the Interest Subvention Scheme for short-term loans up to Rs 3 lakh made through the Kisan Credit Card (KCC) for use in agriculture and other related activities. given.
PM Kisan Latest News, Loans are offered at a special 7 per cent interest rate.
Let us inform you that farmers in the nation can obtain loans through KCC at a reduced interest rate of up to three lakh rupees for farming and other associated businesses including dairy farming, fishing, beekeeping, and animal husbandry. To encourage banks to offer short-term crop loans, the government provides subsidies. Farmers who participate in the programme are eligible for loans with a 7 per cent concessionary interest rate.
Additional savings are offered for timely repayment.
Farmers who repay their loans on time receive an additional 3 per cent annual interest subsidy from the government. Farmers are required to pay interest on this loan at a rate of 4% annually in this way. The rate of interest subvention for lending institutions would be 1.5 per cent for the years 2022–2023. And 2023–2024, according to a circular released by the RBI. This financial aid was worth 2% for the 2021–2022 fiscal year.
Let us point out that the RBI released this information as more than 10 crore farmers awaited the 13th PM Kisan instalment. PM Modi previously stated that the Center would spend more than Rs 2.5 lakh crore this year to lower the cost of fertiliser for farmers. The national government has spent over 10 lakh crore rupees over the past eight years on this head, according to PM Modi.
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