Fasal Loan: Farmers who repay the loan on time do not have to pay interest. Farmers who do not repay the loan on time have to pay 10% interest.
Fasal Loan: There is great news for the farmers of Rajasthan. The Rajasthan government has implemented the Chief Minister’s zero percent interest free crop loan scheme. Under the scheme, short-term crop and animal husbandry loans are provided by the Central Co-operative Bank. Farmers who repay the loan on time do not have to pay interest. Farmers who do not repay the loan on time have to pay 10% interest.
Opportunity till 31 August
As per the order of the state government, the last due date of short term crop and animal husbandry loans distributed under Rabi 2023-24 (1 September 2023 to 31 March 2024) has been approved to be extended by two months from 30 June 2024 to 31 August 2024 or 12 months from the date of taking the loan, whichever is earlier. Therefore, all the loan-taking farmers should repay the old loan on time.
By getting classified in the overdue category, cancellation of nomination and 10% interest in the next crop can be avoided. There will be no financial loss to the farmer. If due to any technical reason, loan recovery is not being deposited at the committee level, then the farmer can also deposit the cash recovery by going to the concerned bank branch.
Can take a new loan after repaying the loan
All farmers can get the loan of Kharif 2024 through committees by repaying the loan of Rabi 2023-24. In view of the target of Rs 315 crore allotted till the month of August, a loan of Rs 295.71 crore has been distributed by the bank. The remaining farmers can soon reach the committee headquarters and repay the outstanding loan and get the benefit of the ambitious scheme of the government before 31 August 2024.
