Govt in talks with banks to cut Kisan Credit Card interest subvention by 50 basis points
· economictimes.indiatimes.com
The government is discussing a 50 basis point reduction in interest subvention for Kisan Credit Card loans. This move aims to align subsidies with recent policy rate cuts by the Reserve Bank of India. Banks currently receive a 1.5% subsidy to offer loans at a 7% interest rate. Discussions are preliminary and part of extending the scheme until 2031-32. Farmers repaying promptly will continue to receive additional interest benefits.
Govt in preliminary talks with banks, seeks another extension for MISS-KCC scheme till 2031-32
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