PIL Seeking ‘Authoritative Interpretation’ of Section 66 PMLA Refused by Delhi High Court  ||  All. HC: Can’t Declare Transaction Benami on Contractor’s Statement Without Relevant Material  ||  Del. HC: Denying ITC to Taxpayers One of the Outcomes of GST Registration Cancell. with Retrospect  ||  Cal HC: Penalty Amount on Higher Value than Invoice Value Can’t be Computed by GST Dep. w/o Evidence  ||  All. HC: Candidates with Criminal Background Will Pose Severe Threat to Democracy if Elected  ||  All. HC: It’s an Obligation of Bank Officials to Fully Co-operate in Criminal Investigations  ||  SC: Prima Facie Case Made Out from Allegations in Complaint Sufficient to Summon Accused  ||  Supreme Court Explains: Debt Becoming Financial & Operational Debt  ||  P&H HC: Model Code of Conduct Can’t Stand in Way of Execution of Judicial Order  ||  Chh. HC: Can’t Build Matrimonial Home With Bricks & Stones, Love & Respect Between Spouses Required    

Short Term Crop Loans eligible for Interest Subvention Scheme and Prompt Repayment Incentive through KCC- (Reserve Bank of India) (26 Feb 2020)

MANU/RMIC/0024/2020

Banking

1. Ministry of Agriculture & Farmers Welfare vide their Office Memorandum, No. F. 1-20/2018-Credit-I, dated January 23, 2020 has advised that Short Term Crop Loans eligible for Interest Subvention Scheme (ISS) and Prompt Repayment Incentive (PRI) should be extended only through KCC thus making KCC a prerequisite for claiming Interest Subvention (IS) and Prompt Repayment Incentive (PRI) by farmers w.e.f. April 1, 2020.

2. In view of this, banks are advised to ensure that all Short Term Crop Loans eligible for Interest Subvention (IS) and Prompt Repayment Incentive (PRI) benefit are extended only through KCC w.e.f. April 1, 2020. The existing Short Term Crop Loans which are not extended through KCC shall be converted to KCC loans by March 31, 2020.

3. Accordingly, reimbursement of interest subvention for Short Term Crop Loans through non-KCC accounts shall not be considered beyond March 31, 2020.

Tags : LOANS   EXTENSION   KCC  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved