In a relief to farmers hit by demonetisation, the Reserve Bank on Monday gave an additional 60 days to repay their crop loans due in November-December and said that prompt repayment would be eligible for the extra 3 per cent interest subsidy.
According to the Interest Subvention Scheme for the year 2016-17, besides subvention of 2 per cent per annum, an additional interest subvention of 3 per cent is provided for prompt payment from the date of disbursement of the loan. This subvention benefit does not accrue to those who repay after one year of availing such loans.