ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

Budget 2019: Farmers loans relief - Kisan Credit Scheme to give 2%, 5% extra benefit; who can avail this scheme

The scheme also helps in meeting harvest expenses and working capital requirement to meet activities like pump sets, sprayers, dairy animals, floriculture, horticulture etc

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Budget 2019: Farmers loans relief - Kisan Credit Scheme to give 2%, 5% extra benefit; who can avail this scheme
Government has simplified application form to get all farmers under this Kisan Credit scheme. Photo: Pixabay

Budget 2019: To help farmers get timely credit for cultivation and other needs, interim finance minister Piyush Goyal has announced a host of benefits under Kisan Credit Scheme. This scheme has been in development by the government to meet short term credit requirements for cultivation of crops. Not only this, the scheme also helps in meeting harvest expenses and working capital requirement to meet activities like pump sets, sprayers, dairy animals, floriculture, horticulture etc

Firstly, government has simplified application form to get all farmers under this Kisan Credit scheme. Going ahead, a farmer will be able to achieve interest subvention benefit of 2% for their loans after any sort of disasters. Additionally, a 5% interest subvention will be given to those farmers who repay their loan on time to lenders. 

There is already a 2% interest subvention given on loan amount up to Rs 3 lakh to farmers. Additionally 3% interest on prompt repayment. 

#Budget2019 पर सबसे तेज और धमाकेदार कवरेज देखिए #BudgetWithZEE पर | @AnilSinghviZEE https://t.co/dLiybAfvan

— Zee Business (@ZeeBusiness) February 1, 2019

Who can avail this Kisan Credit Scheme?

All farmers – individuals/Joint cultivator owners Tenant farmers, oral lessees and share croppers etc. SHGs or Joint liability groups including tenant farmers.

Quantum of loan for 1st year will be assessed on the basis of Cost of cultivation, post-harvest expenses and farm maintenance cost. For subsequent 5 year loan will be sanction on the basis of increase in scale of finance.

Generally, an interest rate of 7% per annum is charged  for one year or up to the repayment due date, whichever is earlier. In case of non-repayment within the due dates interest is applied at card rate. Beyond due date interest will be compounded half yearly.

The repayment period fixed by a bank depends on the anticipated harvesting and marketing period for the crops for which a loan has been granted.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Budget 2019Kisan Credit CardsFarmers Loan
Written By: ZeeBiz WebTeam
Updated: Fri, Feb 01, 2019
02:22 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Social Stock Exchange: What is it? Will it benefit social enterprises in India? Social Stock Exchange: What is it? Will it benefit social enterprises in India?
Housing for all by 2022: Outlook positive for affordable housing in the next 3 years Housing for all by 2022: Outlook positive for affordable housing in the next 3 years
Hit by massive trouble, NBFC sector gets a big boost; here is how Hit by massive trouble, NBFC sector gets a big boost; here is how
Investment tips: These 10 stocks can help your wealth grow in July 2019  Investment tips: These 10 stocks can help your wealth grow in July 2019
Sensex crash! Rs 5.61 lakh crore of investor wealth wiped out in 2 days - 8 reasons why Sensex crash! Rs 5.61 lakh crore of investor wealth wiped out in 2 days - 8 reasons why

LATEST NEWS

Hindenburg Effect: Axis Bank says exposure to Adani Group is nearly 1% of total loans

Twitter creators with ‘Blue Verified’ tag may get ad revenue share, here’s what Elon Musk said

Stock Split: This small-cap company splits shares in 5:1 ratio after delivering 817% return in 5 years

ITC Dividend 2023: Check record date, ex-date and payment date | ITC Share Price NSE Target

Apple CEO Tim Cook says India is ‘hugely exciting market’; confirms about opening retail store in the country

Vani Jayaram songs list in Telugu, Malayalam and Kannada: Remembering veteran playback singer who sung over 10,000 songs

Explained: What is Chinese spy balloon that was shot down by US Air Force - Check Video

Global bond indices not exclusive club or gymkhana; India will get into it on own terms: Top Govt Official

Vani Jayaram, veteran playback singer, dies at 77

Gold Price Today (February 4): Yellow metal dips over Rs 2,500 from record high - Check rate in Delhi, Mumbai and other cities

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV