Farmer’s Loan Waiver Scheme: Assam Govt has started this scheme to support the farmers of the state. This scheme will reduce the burden of the loan at some point because of the 25% Subsidy on the loan amount.
Govt has decided to provide Rs. 25,000 of Subsidy on all KCC loans before they go on debt. It is the maximum amount of subsidy set for this scheme. Along with this, state govt has decreased the interest rate to Zero 0% on KCC loans.
Farmer’s Loan Waiver Scheme Details
Those farmers who are unable to repay the loan amount will get relief after this waiver scheme. Govt also aims to collect the maximum of the loan amount before it goes in debt. So, those who want can get 25% Subsidy on KCC loans.
| Scheme | Farmer’s Loan Waiver Yojana |
| State | Assam |
| Year | 2020 |
| Benefits | 25% Subsidy on KCC loans, and 0% Interest rate |
| Eligibility | Only for Kissan Credit Card Loans |
Benefits of Farmers Loan Waiver Yojana
As I have said the basic benefits any farmer can receive under this scheme, but wait. There are three different benefits for the farmers who already have taken a KCC loan and can’t repay it on time. Check out the benefits below-
- Subsidy on Loan – I have said it from the beginning that farmers will get 25% Subsidy on agriculture loans. The maximum limit cap at Rs. 25,000.
- Interest Rate Cutdown – Yes, Assam govt has cut-down the interest rate of 4% along with central govt of 3% which ultimately stuck to Zero 0% Interest Rate on farmers loans.
- Incentive to Farmers – An incentive scheme has introduced for the farmers who repay the loans on time. If they do so, he will get Rs. 25,000 as an incentive against his dedication to enhancing the system. Apart from this, if any farmer is unable to repay his loan amount, govt will provide Rs. 10,000 separate from the waiver scheme to repay the loan.
Also, Check out Assam Chief Minister News on Today’s Meeting
Eligibility of the Scheme
To be eligible for the scheme, the beneficiary should be a farmer who has taken a KCC loan or agriculture loan against his farming land. Let’s check the complete eligibility criteria required for the Farmer loan waiver scheme here.
- A beneficiary should be a farmer of Assam.
- Subsidy against any KCC loans.
- Purpose of the loan is to cultivate.
- The maximum amount of benefit is a cap to Rs. 25,000/- per farmers loan.
How to apply for the Farmer’s Loan Waiver scheme?
The process of application is only processed through the offline method. That means any farmer wants to avail the benefits need to visit their bank branch and approach them. Alternately, you can also visit the Block office or agriculture office near yours. After you are selected, the benefits will be credited to your bank account.
Also, Check out Assam Tractor Distribution Scheme
Check More from Twitter
Chief Minister of Assam has said many things on twitter that might be helpful for you. So, check out the information on twitter.
CM Shri @sarbanandsonwal chaired a Cabinet meeting in Guwahati.
In a major decision that would provide relief to farmers, the Cabinet approved Debt Relief scheme for KCC loans. Assam Govt will pay 25% of loan amount upto ₹25,000 for timely repayment.
Tweeted By Chief Minister of Assam
Source – Twitter
In yet another decision for the farmers, the Cabinet has approved 4% interest waiver on KCC loans (in addition to 3% provided by Central Govt). This 7% waiver will enable farmers to take loans at 0% interest.
Tweeted By Chief Minister of Assam
Source – Twitter
For setting up a new Jute Mill in Nagaon, the Cabinet has approved a loan of ₹32.72 Cr from the NCDC. The Cabinet has also approved formation of MSME Facilitation Council which will help address issues of the entrepreneurs.
Tweeted By Chief Minister of Assam
Source – Twitter