Rajasthan govt to give guarantee for Rs 5000cr NCDC loan for farm waiver

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The Rajasthan government today approved a proposal to give bank guarantee for taking Rs 5,000 crore loan from National Cooperative Development Corporation (NCDC) for funding the state government’s crop loan waiver scheme. The state cabinet has decided to extend farm loan waiver camps till 15 of the next month from earlier deadline of June 30.

Talking to reporters after the cabinet meeting, state parliamentary affairs minister Rajendra Rathore said, the government approved a proposal to give bank guarantee to take loan of Rs 5,000 crore from NCDC for working capital at 8.5 per cent interest rate for 270 days for crop loan waiver scheme of the state government. He said that 4,361 camps were organised till June 30 in which 16.56 lakh farmers were provided loan waiver certificates worth Rs 5,077 crore.

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