Zero per cent crop loan for farmers from all banks in Gujarat: Govt
May 07, 2018
Gandhinagar: All banks will give loan without interest to farmers in Gujarat on time, said Registrar of Cooperatives in a statement.
The statement further said, as per NABARD credit policy, all banks have to give crop loan to farmers at 7% interest rate. The farmers who return the crop loan timely get 3% waiver in interest from the Centre and 4% from the State government, which means they are availed crop loans at zero per cent interest rate.
The state government had passed necessary resolutions for year 2017-18 on 20th June 2017 and 18th October 2017 and for year 2018-19 on 17th April 2018 and informed all cooperative banks, nationalised banks, regional rural banks and private banks about it, the statement reads.
DeshGujarat
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