Business Standard

Monday, December 23, 2024 | 08:21 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Aadhaar must for crop loans: RBI

Farmers paying dues promptly will be given an additional interest subvention of 3% per annum

Aadhaar, aadhaar card
Premium

Aadhaar project cannot survive without undermining and overriding the rights of the people. Photo: Reuters

Anup Roy Mumbai
The Reserve Bank of India (RBI) on Wednesday made Aadhaar linkage mandatory for availing short-term crop loans in 2017-18. The RBI said the central government would continue to provide interest rate subvention of 2 per cent on crop loans up to Rs 3 lakh. According to the existing rules, farm loans will be given at 7 per cent interest by banks from their own resources initially while the subvention of 2 per cent will be settled by the government. The maximum period for the loans would be one year. Farmers paying dues promptly will be given an additional interest subvention

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in