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

Published on July 01, 2024
Current Context: Union Minister for Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, recently launched the “AIF Interest Subvention Portal” on 1st July 2024.
Union Minister Shivraj Singh Chouhan Launches Web Portal For Faster Bank Settlements Under AIF
  • 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
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