What is the Modified Interest Subvention Scheme and how does it benefit farmers?
Modified Interest Subvention Scheme is a central sector scheme by the Government of India which is fully funded for giving concessional short term credit to the farmers. Through Public Sector Banks, Regional Rural Banks, Cooperative Banks and Private Sector Banks operating in rural and semi urban areas, they ensure that the interest subvention benefits reach the farmers. Support during natural calamities The scheme provides relief to the farmers to the extent of providing an interest subvention of 2% for the first year on restructured amount of crop loans in the events where the farmers are affected due to natural calamities. In conclusion, the Modified Interest Subvention Scheme is an important tool for providing credit at an affordable rate to the farming community of India.
Discover Related
Govt scraps its ambitious ₹1 crop insurance scheme
Small savings interest rates: Check latest PPF, SSY and others
‘Poll Promises Don’t Translate Into…’: Ajit Pawar’s Remark On Farmer Loan Waiver Stirs Debate, Shinde Responds
Potential-linked credit plan released for Thoothukudi
Rajasthan CM releases benefits and subsidies for farmers
Regional Rural Banks Log Record-High Profit Of Rs 7,571 Crore In FY24
PPF: A lesser-known hack that could fetch you more than 7.1% return
A.P. govt. to give ₹1,10,000 per hectare to rain-hit banana farmers
28L Haryana farmers under ₹60K Cr agri loan burden
Demand for work under rural jobs scheme rising amid slowing economic growth
T.N. govt. announces special incentive for sugar cane farmers
MSME association in Salem expresses disappointment over Tamil Nadu Budget
Farmers march to Mumbai, demand scrapping of Shaktipeeth project
₹66.35-crore loan distributed to 799 women SHGs
Govt Could Be Increasing Funds For MGNREGS As Demand Climbs For Rural Work
Rs 6k Cr Will Be Spent on Self-Employment Schemes: Bhatti
Andhra govt. pegs agriculture budget for 2025-26 at ₹48,341.14 crore
Minister calls for strategies to raise income of SHG, FPO members
Bhatti urged to allocate special funds to agriculture allied sectors
Forest Dept. engages rural employment guarantee scheme workers for raising seedlings
NABARD pegs credit potential for Kanniyakumari district at ₹28,687 crore
Govt to roll out credit rating for rural borrowers in six months
PM SVANidhi scheme: Know about eligibility and Rs 30,000 credit cards