2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 2 lakh
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Rs 1 lakh
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Rs 3 lakh
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Rs 4 lakh
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Detailed explanation-1: -Cabinet approves Interest subvention of 1.5% per annum on Short Term Agriculture Loan upto Rupees Three lakh.
Detailed explanation-2: -The amount of interest subvention will be calculated on the crop loan amount from the date of its disbursement/drawal up to the date of actual repayment of the crop loan by the farmer or up to the due date of repayment of crop loan fixed by the bank whichever is earlier subject to a maximum period of one year.
Detailed explanation-3: -To provide relief to farmers affected by natural calamities, Interest Subvention of 2% has been made available to banks for the first year on restructured amount of crop loans. Such restructured loans will attract normal rate of interest from the second year onwards as per the policy laid down by the RBI.
Detailed explanation-4: -Further, in all such cases, the benefit of prompt repayment incentive 3% per annum shall also be provided to the affected farmers.