Subsidised crop loan to be under DBT mode, says RBI

New Delhi:  Interest subsidy scheme on short-term crop loans of up to Rs 3 lakh will be implemented through the DBT mode from the current financial year, the RBI said on Thursday. The government has earmarked Rs 15,000 crore for 2018-19 towards interest subvention for short-term crop loans. In a notification, RBI also said the Interest Subvention Scheme (ISS) 2018-19 will be required to be settled as applicable in Plan Scheme — Scheduled Caste, Scheduled Tribe and North East Region (NER), among others. The agriculture and farmers welfare ministry has informed RBI that it has initiated the process for continuation of the ISS 2018-19. PTI