 "New portal to expedite agri infra fund interest subsidy claims of farmers")
Union minister for agriculture and farmers’ welfare Shivraj Singh Chouhan on Friday launched a web portal for faster bank settlements of interest subsidy claims under the Agriculture Infrastructure Fund (AIF).
The portal was jointly developed by the Department of Agriculture and Farmers’ Welfare (DA&FW) and the National Bank for Agriculture and Rural Development (Nabard).
Investments worth Rs 72,000 crore have been mobilised, with Rs 43,000 crore already sanctioned for 67,871 projects under the AIF to date, the ministry said in a press statement.
“The newly-launched automation of credit claims will ensure settlement of claims within a day, which otherwise took months for manual settlement,” said Chouhan.
The portal will be used by banks, the Central Project Management Unit (CPMU) of DA&FW, and Nabard.
The Union minister further stated that the automated system will help in calculating accurate eligible interest subvention through the portal. It will avoid possible human error in manual processing and facilitate faster settlement of claims.
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The AIF scheme was launched in 2020 with the objective of developing post-harvest management infrastructure to reduce losses, realise better value for farmers, foster innovation in agriculture, and attract investments for agricultural infrastructure. It had a total outlay of Rs 1 trillion funding through banks and financial institutions up to 2025-26.
The scheme provides a 3 per cent interest subsidy to beneficiaries for loans given by banks of up to Rs 2 crore for a maximum period of 7 years. It also provides reimbursement of credit guarantee fees paid by banks.
Chouhan also launched Krishi Katha, a blog to serve as a digital platform to showcase the voices of Indian farmers. It is dedicated to amplifying the experiences, insights, and success stories of farmers across the country.
“Voices and stories of farmers often remain uncovered in the vast and diverse landscape of Indian agriculture. Behind every crop, every field, and every harvest lies a narrative of resilience, struggles, challenges and triumphs. ‘Krishi Katha’ aims to provide a comprehensive and immersive storytelling space where the narratives of India's agricultural community can be shared and celebrated,” said the minister.