K’taka: Govt to provide interest-free loans of upto Rs. 2 lakhs for dairy farming and fisheries
Team Udayavani, Aug 3, 2020, 11:59 AM IST
Bengaluru: The State’s Department of Co-operation has decided to grant interest-free loans of up to Rs 2 lakhs for those interested in dairy farming and fisheries.
This comes as good news for many in the State who have been unemployed recently due to the crisis induced by the COVID-19 lockdowns.
Loans up to Rs 2 lakhs will be granted to those starting new dairy farming or fisheries enterprises and also as working capital to facilitate the development of dairy farming and fisheries enterprises of those already engaged in it.
The loans will be bundled with crop loans for up to Rs 3 lakhs in case if a farmer has already availed it. For example, if a farmer has availed a crop loan of Rs 1 lakh then he can avail Rs 2 lakhs from this new dairy farming or fisheries loan.
For loans up to Rs 1.6 lakhs, no land or property guarantee will be required. To avail more loan amount, guarantees from farmers co-operatives and dairy co-operatives will be required.
Farmers will be granted loans through agricultural cooperative societies and district cooperative banks. The loans will be issued at 7% interest. However, an interest subsidy of 3% from the Central government and 1% from the State government will make it a zero-interest loan for the beneficiary.
The cooperation department has instructed the designated banks to issue loans through the Kisan Credit Card. This allows farmers to borrow money from the bank under this loan scheme only when they need it.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises
Kumaraswamy sheds tears during elections but vanishes when people are in tears: Shivakumar
CM Siddaramaiah promises efforts to include Kannada label on products made in Karnataka
“Chinnara Banna-2024” held successfully in Bantwal
Kharge getting personal on PM’s political observations on Karnataka surprising: BJP MP
MUST WATCH
Latest Additions
Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back
Medical College expels 5 MBBS students from hostel for ragging juniors
Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP
Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi
Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.