RBI/2016-17/308
FIDD.CO.FSD.BC.No.29/05.02.001/2016-17
May
25, 2017
To
The Chairman / Managing Director
All Public & Private Sector Scheduled Commercial Banks
Dear Sir/Madam,
Continuation of Interest
Subvention Scheme for short-term crop loans on interim basis during the
year 2017-18- regarding
Please refer to our Circular FIDD. CO. FSD. BC. No
9/05.02.001/2016-17 dated August 4, 2016 on Interest Subvention
Scheme for Short-term Crop Loans 2016-17 wherein we had advised the
continuation and implementation of the Interest Subvention Scheme for the
year 2016-17. As regards the Scheme for the year 2017-18, Ministry of
Agriculture & Farmers Welfare, Government of India (GoI) has informed
that they have initiated the process for continuation of the Interest
Subvention Scheme.
2. In view of the above, it has
been decided by GoI, as an interim measure, to implement the Interest
Subvention Scheme for the year 2017-18 till further instructions are
received, on the terms and conditions approved for the Scheme for 2016-17,
as contained in the above cited circular. All banks are, therefore, advised
to take note and implement the Interest Subvention Scheme for 2017-18
accordingly.
Yours faithfully,
(Ajay Kumar Misra)
Chief General Manager
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