In a relief to farmers hit by demonetisation, the Reserve Bank of India, RBI, has given an additional 60 days to repay their crop loans due in November-December and said that prompt repayment would be eligible for the extra 3 per cent interest subsidy.<br/><br/>RBI said in a notification in Mumbai yesterday that in view of the constraints faced by the farmers on account of withdrawal of legal tender status of old 500/1,000 rupees notes, Government has decided to provide an additional grace period of 60 days for timely repayment of loan dues.<br/><br/>It said a prompt repayment incentive of 3 per cent would also be admissible to those farmers whose crop loan dues are falling due between November 1 and December 31, 2016, if such farmers repay the same within 60 days from the above period.

In a relief to farmers hit by demonetisation, the Reserve Bank of India, RBI, today gave an additional 60 days to repay their crop loans due in November-December and said that prompt repayment would be eligible for the extra 3 per cent interest subsidy.<br/><br/>RBI said in a notification in Mumbai today that in view of the constraints faced by farmers on account of withdrawal of legal tender status of old 500/1,000 rupees notes ,Government has decided to provide an additional grace period of 60 days for timely repayment of loan dues.<br/><br/> It said a prompt repayment incentive of 3 per cent would also be admissible to those farmers whose crop loan dues are falling due between November 1 and December 31, 2016, if such farmers repay the same within 60 days from the above period. <br/>''<br/>