Government Extends Crop Loan Benefits to Farmers Till 31st May 2020

Published on April 01, 2020
Current Context: Since the whole nation is under lockdown due to COVID-19, the Government of India has taken a major role to provide relief to the farmers in terms of crop loan interest.
Government Extends Crop Loan Benefits to Farmers Till 31st May 2020
  • GOI has extended the benefit of 2% interest subvention to banks and 3% prompt replacement incentives to all the farmers up to 31st May 2020.
  • The interest subsidy has been extended to all the crop loans up to 3 lakh rupees given by banks which have become due or becoming due between 1st April 2020 to 31st May 2020. Since the extension is provided, now the farmers will not have to travel to the bank branched amidst of this lockdown situation of COVID-19.
  • Also, the farmers will not have to face any difficulties in repayment of their short term crop loans falling due during this period.

Question:

Q.1 GOI has extended the benefit of _____%prompt replacement incentives to all the famers up to 31st May 2020.
a. 5%
b. 6%
c. 3%
d. 2%

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