Rs 7.57 lakh crore farm credit disbursed in April-December of FY16
Farmers get short-term crop loans of up to Rs 3 lakh at subsidised interest of 7% per annum. For prompt repayment, they get additional incentive of 3%, making the effective interest rate 4%.
The Minister said that the banks should submit their audited claims to NABARD and RBI on a half yearly basis. Photo: Zeebiz Team