news details |
|
|
| Interest subvention scheme of Government of India extended to J&K Bank | | | Early Times Report
SRINAGAR, November 4 :In a bid to extend cheap loans to the agriculture sector in the J&K State, Jammu & Kashmir Bank can now provide interest subsidy to the farmers under interest subvention scheme of GOI who avail loan facilities under different crop loan schemes of the bank aimed to enhance agriculture production.
The relief to the farmers has come in the wake of the central finance ministry’s announcement that “as the J&K Government retains majority stake of 53% in the Jammu and Kashmir Bank, it, can provide subsidised loans to farmers under the Interest Subvention Scheme of the Centre”.
Notably, the government of India has been implementing the Interest Subvention Scheme since 2006-07 to ensure that short-term crop loans up to Rs 3 lakh are available to farmers at a concessional interest rate of 7 per cent per annum, irrespective of the prevailing market rate. The scheme is being currently implemented through public sector banks, regional rural banks and cooperative banks only.
It may be mentioned that till now J&K Bank was not eligible to extend the interest subsidy to the farmers availing agriculture loan. But due to timely intervention of Chief Minister, Omar Abdullah and continued efforts of the Bank, the union finance ministry included J&K Bank in the Interest Subvention Scheme.
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
