Private banks to share crop loan burden

India Budget 2013
Updated: Feb 28, 2013 01:26:45 PM UTC

Finance Minister P Chidambaram has extended the interest subvention scheme for crop loans to private banks. They will now have to give crop loans at 4 per cent. Until now only state-owned banks and regional rural banks were included. This is likely to discourage private banks at a time when the government is trying to increase banks’ reach to unbanked regions.

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