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Eligible farmers are provided with a maximum debt relief of Rs 2 lakh through the Debt Relief Commission for loans availed by them from cooperative banks and societies.
The 1.5 per cent interest subvention will be provided to lending institutions for the financial year 2022-23 to 2024-25 for providing short-term agri loans of up to Rs 3 lakh to farmers.
The loan was taken from the Ezhamkulam branch of the Kerala Bank.
The government will have to write off about Rs 500 crore as part of the relief.
We are extremely disappointed with the way negotiations are going on between govt and farmers over new farm laws, said the apex court.
In the hearing conducted via video conferencing, the top court took note of the grievances being faced by various sectors such as real estate stating that they have been left out under the Centre's new proposal.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
The walk out came after a one-and-a-half hour discussion on the crisis in the agriculture sector.
Farm loans will be limited to those who possess Kisan Credit Cards accounts from now on.
It is called the Mahatma Jyotirao Phule Farmer Loan Waiver Scheme.