Post-harvest loan to be offered at 7% for using warehouses
The finance ministry has launched a concessional loan scheme for farmers to prevent distress sale of agricultural produce.
Farmers who park their produce at warehouses will be able to avail short-term post harvest loan at 7% as against the prevailing rate of 11%-12%. Farmers making timely payment of the loans will further enjoy 3% interest subvention, bringing the real interest rate to 4%, according to the finance ministry directive.