UP Interest Waiver Scheme

UP Interest Waiver Scheme

Key information:

  • Launched on: In the financial year 2018-19
  • Launched by: The state government of Uttar Pradesh
  • Executed by: Cooperative rural development banks
  • Benefit: Interest loan waiver
  • Beneficiary: All the farmers who have taken a loan
  • A number of beneficiaries: 2, 63,510 Farmers 
  • Eligible: Loan has taken by farmers before 31st March 2017 

Objective:

  • To help farmers of Uttar Pradesh.
  • Plan to provide the One Time Settlement. 

Key facts:

  • The State Government of Uttar Pradesh has offered a new scheme for the welfare of all the Farmers in the State. 
  • So, by launching this new scheme, the state government of UP is planning to help and encourage the Farmers by providing loans. Thus, all the Farmers in the Uttar Pradesh state are eligible to avail the Benefits of this scheme.
  • This scheme is applicable for the loans which are taken on or before 31st March 2018. 
  • And the second thing is that the Loans must be taken from the Uttar Pradesh Co-Operative Rural Development Bank. 
  • The state government stated that there is a total of Rs.2,542.43 Crores of Loans Pending out of which Rs.1028.52 Crores is the principal amount and Rs.1503.91 Crores is the Interest. 
  • So, the Government of Uttar Pradesh has decided to waive Off that Interest amount. 
  • This scheme will be going to benefit around 2.63 lakh farmers.

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