The Jharkhand cabinet on Tuesday gave its approval to provide farmers of the state loans at the rate of one per cent.
"Jharkhand cabinet has given its approval to provide loan at rate of one per cent to farmers taken under Kisan Credit Card and this will be applicable if the loan is paid back in one year," Jharkhand Cabinet Secretary S.S. Meena told reporters.
At present, farmers in the state get loans at the rate of four per cent.
The state cabinet has made a provision of Rs 40 crore for this and the government will bear three per cent loan interest. The decision has been taken after one farmer allegedly committed suicide due to burden of loans.
Another important decision taken by the state cabinet is that only a token of Re 1 will be charged from women for registry of properties up to the value of Rs 50 lakh. But this facility can only be availed once.