Ref. No. NB.DoR /1372/PPS - 178/2019-20
02 August 2019
Circular No. 238/DoR-64/ 2019
The Managing Director
All State Cooperative Banks
Long-term refinance for investment credit for agriculture - Long Term Rural Credit Fund 2019-20 (LTRCF) - State Cooperative Banks (StCBs)
GOI has allocated Rs 15,000 crore for 2019-20 for investment credit in agriculture activities exclusively for Cooperative Banks and Regional Rural Banks (RRBs).
2. The interest rate on refinance from NABARD will be 4.75 % p.a. (with half-yearly rests), subject to revision from NABARD from time to time. Banks may pass on the benefit to the ultimate borrower.
3. The Circular is also available on NABARD website www.nabard.org under the tab information centre.
4. Please acknowledge receipt.
(G R Chintala)
Chief General Manager