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Goa: Get Interest Subsidy Loans upto 5 Lakhs for Agricultural Activities

Department of Animal Husbandry and Veterinary Services, Government of Goa has a new scheme to provide credit facilities upto Rs. 5 lakh to the farmers at subsidized rate of interest for their agricultural activities.

Objectives:

  • To accelerate investment in agriculture and allied sectors in the State.
  • To provide farmers investment for agricultural activities.
  • To develop Horticulture, Animal Husbandry, Fisheries, Processing and marketing in the state.

Period of operation:

The Scheme will remain operative initially for a period of three years and will be reviewed for continuation on completion of three years.

Eligibility:

  • All bonafide agriculturists, individuals under animal husbandry sector and fisheries sector with or without Kisan Credit Cards from the State of Goa are eligible to apply under this Scheme.
  • Each beneficiary shall be eligible for interest subsidy to a maximum loan amount of Rs. 5.00 lakhs either as one or more loans taken for one or more purposes i.e. on total repayment of one loan, the farmer will be eligible for another loan subject to an overall ceiling of Rs. 5.00 lakhs.

Benefits:

  • Rate of interest applicable to the farmers will be 4%.
  • The interest over and above this ceiling charged by the institutions shall be borne by the Government as interest subsidy to the farmer and will be directly released to the institution.

How to Apply:

Farmers shall directly approach banks with requisite documentation. Banks will sanction loans as per usual norms including approved scales of finance.

However, in case of loans for Fisheries, applicants will apply through the nearest office of Directorate of Fisheries which will scrutinize the applications and forward them to the nearest bank branch as per preference indicated by the farmer within 15 days of receipt of application.

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