Reimbursement of Interest Subvention and Prompt Repayment Incentive for Short Term Crop loans only through KCC accounts
Please refer to our Circular Ref. No. 61 with Reference No. NB.DoR-Policy/2830/IS-1/2019-20 dated 13 March 2020 on the captioned subject.
In view of complete lock-down in most states of the country with instructions to people to stay indoors and restrictions on movement except for providing essential services, it is unlikely that customers would complete conversion/ closure of agri gold loan accounts by depositing the principal amount and interest in the banks and complete formalities for issue of new Kisan Credit Cards. It has therefore been decided by Ministry of Agriculture and Farmers’ Welfare, Government of India (communicated to us vide their office memorandum dated 28.03.2020-copy enclosed), to extend the cut-off date for conversion of agri gold loan accounts and other agri accounts into KCC accounts to 31.05.2020 with commensurate extension of interest subvention (ISS) and Prompt Repayment Incentive (PRI) benefit against such accounts till 31.05.2020.
All other terms and conditions of the scheme remain same.