August 13, 2010 1:32 PM

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3,75,000 Kisan Credit Cards will be issued in current fiscal: Pawar

Three lakh seventy five thousand Kisan Credit Cards will be issued in the current fiscal to ensure better credit facilities to farmers across the country. In a written reply in the Lok Sabha today, the Finance Minister Mr. Pranab Mukherjee said that banks have been asked to waive margin requirements for agriculture loans up to one lakh rupees. They have also been advised to dispense with the requirements of no due certificates for small loans up to 50 thousand rupees. He informed the House that government is providing interest subsidy to all public sector, regional rural and cooperative banks up to three lakh rupees. This ensures short term credit to farmers at seven per cent interest. He said an additional two per cent interest subsidy was provided to those farmers in the last fiscal who repaid their crop loans in time.

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