RBI has advised the banks to extend the benefit of Interest Subvention and Prompt Repayment Incentive to farmers
RBI has advised the banks to extend the benefit of
Interest Subvention of 2% and Prompt Repayment Incentive (PRI) of 3% for short
term crop loan upto Rs. 3 lakhs to farmers whose account have become due
between 1st March, 2020 ànd 31st May, 2020.
Farmers whose loan repayment date lies between
March 01, 2020 and May 31, 2020 can repay till end of May without any penal
interest.
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