CURRENT AFFAIRS

Detailed explanation-1: -Prime Minister Shri Narendra Modi today launched a new Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund of Rs.

Detailed explanation-2: -The Union Cabinet in July 2020 has approved a new pan India Central Sector Scheme called Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility).

Detailed explanation-3: -The Agriculture Infrastructure Fund (AIF) is a medium-long term debt financing facility through interest subvention and credit guarantee support on loans for investment in viable projects for post-harvest management infrastructure and community farming assets.

Detailed explanation-4: -NABARD will steer this initiative in association with the Ministry of Agriculture and Farmers’ Welfare. Read more on NABARD. For APMCs, interest subvention for a loan up to Rs. 2 crore will be provided for each project of different infrastructure types e.g. cold storage, sorting, grading and assaying units, silos, etc.