The government today said there is no proposal under consideration for waiving of farm loans of small and marginal farmers. In a written reply in the Rajya Sabha, Minister of State for Finance Santosh Kumar Gangwar said the government decided that an additional grace period of 60 days for prompt repayment incentive at the rate of three per cent will be provided to such of the farmers whose crop loans dues fall due between 1st November to 31st December 2016 and if such farmers repay the same within 60 days from their due date in this period. <br/><br/>He said it is also decided to grant interest waiver for two months November and December 2016 for all short term crop loan availed from Cooperative banks between 1st April to 30th September 2016 and upfront deposit of the same in the accounts of the concerned farmers. The minister said National Bank for Agriculture and Rural Development will make short term borrowings at prevailing market rate of interest for approximate 20,000 crore rupees for on-lending to Cooperative Banks at four and half percent rate of interest.