PM announces interest waiver for farmers

New Delhi: Prime Minister Narendra Modi, in his address on the eve of New Year, announces three crore farmers who have Kisan Credit Cards, will be given RuPay debit cards within three months.

Kisan Credit Cards were launched in 1998, but so far, it was essential to go to a bank, to use them. Now, farmers will have RuPay Debit Cards, which they can use anywhere.

Prime Minister highlights that Rabi sowing is up by 6 per cent compared to last year. Fertilizer offtake is up by 9 per cent. During this period, the Government has taken care to ensure that farmers do not suffer for want of access to seeds, fertilisers and credit. Now, we have taken some more decisions in the interest of farmers.

“Farmers who have taken loans for the Rabi crop from District Cooperative Central Banks and Primary Societies, will not have to pay interest on such loans for a period of 60 days. Farmers who have paid interest during the last two months, will receive these amounts back, directly into their bank accounts”, said Modi, adding, “Arrangements are being made to provide farmers even better access to loans from cooperative banks and societies. NABARD created a fund of 21,000 crore rupees last month. Now, Government is adding 20,000 crore rupees more to this. The loss that NABARD suffers by giving loans to cooperative banks and societies at low interest rates, shall be borne by the Government of India”.