Cabinet approves financing facility under 'Agriculture Infrastructure Fund'

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund. The scheme shall provide a medium - long term debt financing facility through interest subvention and financial support.

• Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans.Loans will be disbursed in four years.
• All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore. This subvention will be available for a maximum period of seven years. 
• Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform. 
• The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feed-back.