Centre extends farm loan interest period by 60 days

Centre extends farm loan interest period by 60 days  Following the recent demonetization decision, the Government decided on Tuesday to provide an additional grace period of 60 days to such farmers, whose crop loan dues were due between 1st November, 2016 and 31st December, 2016. If such farmers repay the same within 60 days with effect from the date on which the repayment was due,

they will be eligible for prompt repayment incentives. The Government took this step in view of the need of the farming community for more time to repay their loan dues. The move is expected to provide a boost to the rural and agricultural economy.