Chief Minister’s Krishi Rinn Yojana
The Government of Arunachal Pradesh has decided to provide a facility of Zero interest crop loan to farmers of the State to enable them easy access to formal credit through banking channels. The Government of Arunachal Pradesh has decided to launch “Chief Minister’s Krishi Rinn Yojana” which will have the following features:-
- The Government of Arunachal Pradesh would provide interest subvention of 4% on crop loan / Kisan Credit Card limit up to Rs. 3.00 lakhs sanctioned by all banks to all farmers of the State during the current financial year. This interest subvention will be over and above the subvention given by Govt. of India to banks and the farmers as per policy circular issued by RBI/NABARD.
- The farmers would also get interest relief [at] 3% per annum who promptly repay their short term production credit (crop loan) within one year of disbursement / drawal of such loan. In effect, farmers who take loan of up to Rs. 3.00 lakhs and make timely repayments will get access to zero interest credit facility.
- NABARD will act as channel partner for reimbursement to banks against interest subvention amount claims in prescribed format, for which a circular will be issued to all the banks separately.
- The State Government will be issuing a notification wherein a certificate of area and crop being cultivated issued by Circle Officer which will be accepted as valid documents by bank for issuance of Kisan Credit Card to the farmers.
- This scheme will not be available for production of perennial food crop, plantation crop.
- Banks and district administration will give adequate publicity to the above scheme so that the farmers can avail the benefits.
- Benefit under scheme will be extended to farmers availing KCC / crop production loan from commercial banks. APRB and APSCAB Ltd at the same terms and conditions prescribed by RBI / NABARD. Banks will make available the KCC loan application formats being used at present to al the farmers willing to apply for KCC / short term crop loan.
- The State Government has set a target of 7500 farmers to be covered under crop loan under Chief Minister’s Krishi Rinn Yojana in this financial year. The district wise / bank wise target will be circulated separately to all DCs and concerned banks. These targets will be reviewed in the DLCC meetings and SLBC meetings. Any bank which fails to meet the stipulated target would be reported to RBI and Department of Financial Services.
- The Circle Officers will function as Financial Extension Officers of the State Government and also help the banks in timely recovery of crop loans.
Application Process :
- Prospective weavers shall obtain a Land Holding certificate from the concerned CO/EAC/BDO/SDO/ADC/DC office as per form enclosed.
- The loan application will be forward through Circle Officer who will certify that the applicants are in possession of Land.
- Benefits under the scheme will be extended to farmers availing KCC.
- Can apply in any Bank.
Zero Interest Crop Loan