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Plea to pay interest subsidy on crop loans

Plea to pay interest subsidy on crop loans
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A farmer M Sai Rama Rao demanded that the banks give 4 per cent interest subsidy on crop loans to the farmers who paid back their crop loans to the banks within stipulated time

Guntur: A farmer M Sai Rama Rao demanded that the banks give 4 per cent interest subsidy on crop loans to the farmers who paid back their crop loans to the banks within stipulated time.

He warned that he will file a case against the banks for not repaying interest subsidy to the farmers.

Addressing a press meet at CPM office here on Thursday, he said that according to GO No 270, the farmers will get 4 per cent interest subsidy, if they pay crop loan up to Rs 3 lakh within a year.

He alleged that banks were not sanctioning interest subsidy to 90 percent of the farmers and cheating them.

He demanded that the revenue department and officials of agriculture department take steps to credit interest subsidy on crop loans to the farmers' account.

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