Chief Minister's Krishi Rinn Yojana

The Chief Minister's Krishi Rinn Yojana (CMKRY) is a scheme initiated by the Government of Arunachal Pradesh to support farmers by providing them with zero-interest crop loans. Under this scheme, the government offers an interest subvention of 4% on crop loans or Kisan Credit Card limits up to Rs. 3.00 lakhs, sanctioned by all banks during the current financial year. This interest subvention is provided over and above the subvention given by the Government of India to banks and farmers per the policy circular issued by RBI/NABARD. Additionally, farmers who promptly repay their short-term production credit (crop loan) within one year of disbursement or withdrawal can avail themselves of an interest relief of 3% per annum. In other words, farmers who take loans up to Rs. 3.00 lakhs and make timely repayments are eligible for the zero-interest credit facility. NABARD acts as the channel partner for reimbursement to banks regarding the interest subvention amount of this scheme. The state government also issues a notification wherein a certificate of the cultivated area and crops being grown is issued by the Circle Officer, which is considered a valid document by banks for issuing Kisan Credit Cards to farmers. Salient Features: 1. The farmer will get interest subvention of 4% on crop loan / KCC limit upto Rs. 3 lakh. 1. The farmers can take loans from any bank within the state during the current financial year. 1. If the farmer make their loan payment on time they will also get interest relief of 3% per annum on their crop loan. 1. The government will not provide any relief for the production of perennial food crop and plantation crop. 1. The farmers will be selected separately through district and concerned bank wise. Objective of this scheme: 1. To provide a facility of crop loans at zero interest rates for farmers in the state.