Farmers get 60 days more to repay Crop Loans due following Note Ban

Following the problems faced by farmers after the demonetisation of Rs 500 and the Rs 1000 notes, the Government has decided to provide an additional grace period of 60 days to farmers, whose crop loan dues fall due between 1st November, 2016 and 31st December, 2016.

If such farmers repay the same within 60 days with effect from the date on which the repayment was due, they will be eligible for prompt repayment incentive for 2016-17.

With a view to provide stimulation to the rural sector and farming community, the Government provides crop loans at subvented rates of interest at 7 % per annum at the ground level.