Circulars

Continuation of Modified Interest Subvention Scheme for Short Term Loans on interim basis during the year 2021-22 and 2022-23

NB.Refinance-Policy/51/IS-1/2022-23

Circular No. 76 /Refinance- 26 /2022

11 April 2022

Managing Director

All State Co-operative Banks

Dear Sir

Continuation of Modified Interest Subvention Scheme for Short Term Loans on interim basis during the year 2021-22 and 2022-23

Please refer to our circular No.50 (Ref. No. NB.DoR-Policy/1691/IS-1/2021-22) dated 29 March 2022 on the Modified Interest Subvention Scheme for short term crop loans during 2021-22 and 2022-23.

In continuation of the above circular, MoA&FW, GoI vide their letter No.F.No.1-4/2020-Credit-I dated 31 March 2022 have clarified the following:-

(a.) In para 2(b) of ibid circular the word “prepay” may be read as “repay”.

(b.) The guidelines for extending benefit of IS and PRI on short term loan (i.e. crop loan + allied activities including Animal Husbandry, Dairy, Fisheries, Bee Keeping etc.) are available only on an overall limit of Rs. 3 lakh per annum and subject to a maximum sub-limit of Rs. 2 lakh per farmer involved in activities only related to Animal Husbandry, Dairy, Fisheries, Bee Keeping etc. within the prescribed limit of Rs.3 lakh for MISS.

(c.) The exclusion criterion for Aadhar authentication is still applicable for the State of Assam, Meghalaya and erstwhile Jammu & Kashmir (Now UTs of Jammu & Kashmir and Ladakh) as the GoI instruction dated 09.07.2020 has not been revised.
Other terms and conditions of our above circular remain unchanged.

Sincerely

(Vivek Krishna Sinha)
Chief General Manager

information centre