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Rajasthan govt launches short-term agri loan scheme

Press Trust of India  |  Jaipur 

Rajasthan government has started Agriculture Produce Deposit Loan Scheme (Krishi Upaj Rahan Loan Scheme) for the farmers so that they get right price for their produce, the state Cooperative Minister Ajay Kilak said in a release.

He said farmers do not have regular monthly income from agriculture work and earn by selling their yield.

Sometimes they have to sell their produce at reduced price to fulfil family needs.

To fulfil the immediate needs of the farmers, we have initiated the scheme, the minister said.

Kilak said that under the scheme, small and marginal farmers will be provided Rs 1.5 lakh on their produce deposits, whereas large scale farmers will be given Rs 3 lakh loan at 11 per cent interest rate.

The loan will be provided for time period of 90 days, which can be extended to six months in special circumstances, the minister added.

Those repaying the loan in time will get 2 per cent rebate on the interest.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, September 17 2017. 20:22 IST