Jharkhand’s farm loan waiver scheme
Date: 25 December 2020 Tags: MiscellaneousIssue
The Jharkhand cabinet has approved a farm loan waiver scheme with a total budget of Rs 2,000 crore.
Details
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The number of farmers in Jharkhand is anywhere between 22 lakh to 32 lakh and most are single crop growers. It has 12.93 lakh farmers who have farm loans.
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During first phase of implementation only 10,500 ‘Standard KCC’ crop loan accounts on a sample basis will be benefited on December 29.
Eligibility
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The loan waiver scheme will give relief to 7.83 lakh farmers in the state. In addition to this, Rs 50,000 will be waived for 1.24 lakh farmers.
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For each farmer, the capping is at Rs 50,000.The amount will be paid by the government to their respective banks.
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Both landowners and landless farmers will be eligible. The farmer should have repaid instalment at least once during the repayment period.
Process
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In the first phase, the implementation will be done manually. Banks will collect certified copies of farmers’ Aadhaar and ration cards, and retain them for either uploading on a web portal or producing it to the competent authority.
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Online Aadhar seeding with respective KCC loan accounts have been done. The banks will charge the farmers Re 1 for the service.