It has been decided by government, "as an interim measure", to implement the interest subvention scheme for 2015-16, till June 30
The RBI said a new scheme for interest subvention for farmers is being worked out though it may take "some time".
"As regards the scheme for the year 2015-16, the Government of India has advised that presently various alternative approaches for improving the efficacy of the scheme are being examined, the finalisation of which may take some time," RBI said in a notification on Thursday.
RBI further said it has been decided by government, "as an interim measure", to implement the interest subvention scheme for 2015-16, till June 30, on the terms and conditions approved for the scheme for 2014-15.
"All banks are, therefore, advised to take note and implement the interest subvention scheme for 2015-16 accordingly," it said
"As regards the scheme for the year 2015-16, the Government of India has advised that presently various alternative approaches for improving the efficacy of the scheme are being examined, the finalisation of which may take some time," RBI said in a notification on Thursday.
RBI further said it has been decided by government, "as an interim measure", to implement the interest subvention scheme for 2015-16, till June 30, on the terms and conditions approved for the scheme for 2014-15.
"All banks are, therefore, advised to take note and implement the interest subvention scheme for 2015-16 accordingly," it said
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