Union Minister Shivraj Singh Chouhan Launches Web Portal For Faster Bank Settlements Under AIF

Current Context: Union Minister for Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, recently launched the “AIF Interest Subvention Portal” on 1st July 2024.

• Developed jointly by the Department of Agriculture and Farmers’ Welfare (DA&FW) and NABARD.
• This web portal automates and expedites the settlement of interest subvention claims under the Agriculture Infrastructure Fund (AIF).
• The portal ensures faster claim settlement, transparency, and accurate calculations, benefiting farmers and enhancing collaboration.
• As of now, ₹72,000 crore has been mobilized, with ₹43,000 crore sanctioned for 67,871 projects under the AIF.

Question:

1 What is the primary purpose of the "AIF Interest Subvention Portal"?

• A) To provide direct subsidies to farmers
• B) To automate and expedite the settlement of interest subvention claims under the Agriculture Infrastructure Fund (AIF)
• C) To distribute crop insurance claims
• D) To monitor agricultural produce prices

Answer: B) This web portal automates and expedites the settlement of interest subvention claims under the Agriculture Infrastructure Fund (AIF).