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

BJP accuses Kejriwal of deception over ‘Sanjeevani’ and ‘Mahila Samman’ schemes

Theatre stampede case: Police grill actor Allu Arjun for over 3 hrs; ask about sequence of events

Karnataka CM Siddaramaiah wishes Shivarajkumar speedy recovery

HC asks Centre’s response on plea of Yuvraj Singh’s NGO seeking FCRA renewal

Rafi a musical genius, his cultural influence transcends generations: PM Modi

Kalaburagi: GESCOM officials booked after woman injured by live wire

Derogatory comments row: K’taka Minister Hebbalkar dares BJP’s Ravi to take oath before god

Related Articles More

Karnataka CM Siddaramaiah wishes Shivarajkumar speedy recovery

Kalaburagi: GESCOM officials booked after woman injured by live wire

Derogatory comments row: K’taka Minister Hebbalkar dares BJP’s Ravi to take oath before god

KSRTC inducts 20 Ambaari Utsav sleeper buses

One killed, another injured in scooter-truck collision in Arantodu

MUST WATCH

Tulunadu Daivaradane

Feeding Birds with Creative Paddy Art!

Areca Nut

HOTEL SRI DURGA BHAVANA

Harish Poonja


Latest Additions

BJP accuses Kejriwal of deception over ‘Sanjeevani’ and ‘Mahila Samman’ schemes

Theatre stampede case: Police grill actor Allu Arjun for over 3 hrs; ask about sequence of events

Karnataka CM Siddaramaiah wishes Shivarajkumar speedy recovery

HC asks Centre’s response on plea of Yuvraj Singh’s NGO seeking FCRA renewal

Rafi a musical genius, his cultural influence transcends generations: PM Modi

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.