Interest Subvention Scheme

The Union Cabinet on Wednesday approved interest subvention of 1.5 per cent on short-term agriculture loans of up to Rs 3 lakh for all financial institutions, a move aimed at ensuring adequate credit flow in the farm sector. The Cabinet, chaired by Prime Minister Narendra Modi, has approved restoring interest subvention on short-term agriculture loans of 1.5 per cent for all financial institutions, Information and Broadcasting Minister Anurag Thakur said. The 1.5 per cent interest subvention will be provided to lending institutions (public and private sector banks, small finance banks, regional rural banks, cooperative banks and computerised Primary Agriculture Credit Societies) for the financial year 2022-23 to 2024-25 for providing short-term agri loans of up to Rs 3 lakh to farmers. "This increase in Interest Subvention support requires additional budgetary provisions of Rs 34,856 crore for the period of 2022-23 to 2024-25 under the scheme," an official statement said. The incre

MNRE on Tuesday said it has launched a loan interest subvention scheme in association with UNIDI and GEF to provide financial assistance for innovative waste to energy biomethanation projects

The housing market is reviving from the lows hit last year

The Himachal Pradesh government has approved interest subvention scheme on loan to revive the tourism industry, an official spokesperson said. Under the Interest Subvention Scheme, tourism units paying GST up to Rs 1 crore will be entitled for maximum loan of Rs 50 lakh and those paying GST between Rs 1 crore and Rs 3 crore for at least one year ending 31st March, 2020 will be entitled for loan up to Rs 75 lakh, he added. Units paying GST above Rs 3 crore will be eligible for loan of Rs 1 crore and small registered tourism units will also be eligible for maximum loan of Rs 15 lakh, he added. This loan period will be for four years with interest subvention of 50 per cent each for the first two years, he added. The cabinet in its meeting chaired by Chief Minister Jai Ram Thakur on Thursday also gave in principle approval to regularise the services of 6,500 PTA, 3,300 PAT and 97 PARA teachers engaged in various government schools, he added. The Cabinet gave its approval to enhanc

Benefit will be applicable for 12 months to all loan accounts under 'Sishu' category of Mudra scheme, provided they have not been classified as NPA as of March 31, 2020

Cabinet has approved the total expenditure of Rs 20,339 crore in the current financial year