CURRENT AFFAIRS

Detailed explanation-1: -State Bank of India has entered into a tie-up with Tirumala Milk Products, a South-based company which was acquired by Groupe Lactalis in 2014, to provide loans to dairy farmers who supply milk to the latter.

Detailed explanation-2: -A dairy farm business loan is a Working Capital Term Loan that can be availed by agriculture labourers, farmers, limited companies, SHGs, registered partnership firms, and dairy co-operative societies. The amount of money that is granted to applicants can range up to Rs. 100, 000 for the hypothecation of live stocks.

Detailed explanation-3: -It is a term loan that offers a high-value loan amount that you can use to smoothen your dairy farm operations. As a dairy farm owner, you will incur various expenses concerning the purchase of raw materials, production processes, animal care, etc.

Detailed explanation-4: -SBI has introduced a technology product, named ‘SAFAL-Simple And Fast Agriculture Loan’ for financing individual Dairy farmers.

Detailed explanation-5: -NABARD Subsidy: You can avail additional 25% of the outlay (33 . 33 % for SC / ST farmers) as back-ended capital subsidy subject to a ceiling of Rs 1.25 lakh for a unit of 10 animals (Rs 1.67 lakh for SC/ST farmers, ). A maximum permissible capital subsidy is Rs 25000 (Rs 33, 300 for SC/ST farmers) for a 2-animal unit.