Karnataka State Government launched Karnataka Coop Banks Loan Interest Waiver Scheme 2024 on 16 February 2024 to waive the interest charged on medium and long term past due loans of farmers of Karnataka state. Through this scheme, interest on loans taken from District Cooperative Central and Primary Cooperative Agricultural and Rural Development Banks will be waived and the loan limit for interest-free short-term loans by farmers will be increased from ₹ 3 lakh to ₹ 5 lakh in 2023-24. Has been done.
Under this scheme, the concessional interest rate of 3 percent has been increased from ₹ 10 lakh to ₹ 15 lakh. Today through this article we will tell you about Karnataka Coop Banks Loan Interest Waiver Scheme 2024 Registration, Apply Online, Benefits, Eligibility, Beneficiary List, Etc. If we provide complete information about Karnataka Coop Banks Loan Interest Waiver Scheme 2024, then stay connected with this article till the end and get complete information about Karnataka Coop Banks Loan Interest Waiver Scheme 2024.
Karnataka Coop Banks Loan Interest Waiver Scheme 2024
Karnataka Coop Banks Loan Interest Waiver Scheme 2024 has been started by the Karnataka state government for the farmers of its state. Through this scheme, loan interest of such farmers of the state will be waived who have taken medium and long-term loans from District Cooperative Central and Primary Cooperative Agriculture and Rural Development Banks. Also, under this scheme, the loan limit for interest-free short-term loans for the farmers of the state in 2023-24 has been increased from ₹ 3 lakh to ₹ 5 lakh, and the upper limit for medium and long-term loans, which are provided.
The concessional interest rate of 3 percent has been increased from ₹ 10 lakh to ₹ 15 lakh. About 57 thousand farmers in the state will get benefits through this scheme. To avail of all the benefits available under this scheme, the eligible farmers of the state will have to Karnataka Coop Banks Loan Interest Waiver Scheme 2024 Apply Online, which will be started after the release of the official website for this scheme.
Key Details Of Karnataka Coop Banks Loan Interest Waiver Scheme 2024
| Name Of Scheme | Karnataka Coop Banks Loan Interest Waiver Scheme |
| Started In Which State | Karnataka |
| Started By | By Karnataka State Government |
| Beneficiary | farmers of Karnataka state |
| Objective | Waiver of interest on overdue loans of District Cooperative Banks |
| Start Date | 16 February 2024 |
| Application Mode | Online |
| Official Website | Available Soon |
Objective Of Karnataka Coop Banks Loan Interest Waiver Scheme
The main objective of the government Coop Banks Loan Interest Waiver Scheme launched in the state of Karnataka is to waive the interest charged on medium and long term loans taken by farmers from DCC and Primary Cooperative Agriculture and Rural Development (PICARD) banks and The loan limit for interest-free short-term loans for farmers is to be increased from ₹ 3 lakh to ₹ 5 lakh and the concessional interest rate is to be increased from ₹ 10 lakh to ₹ 15 lakh.
Benefits Of Karnataka Coop Banks Loan Interest Waiver Scheme
The details of the benefits that farmers and banks of the state will receive from the Karnataka Coop Banks Loan Interest Waiver Scheme are as follows.
- Through this scheme, the Karnataka state government will provide financial assistance of Rs 450 crore to the banks.
- Interest on overdue loans of district cooperative banks will be waived off by the farmers of the state, which will provide economic benefits to the farmers.
- More than 57000 farmers in the state will get benefits under the scheme.
- Through the scheme, the borrowing limit for interest-free short-term loans for farmers has been increased from Rs 3 lakh to Rs 5 lakh.
- The upper limit for medium and long-term loans provided at a concessional interest rate of 3 percent has been increased from Rs 10 lakh to Rs 15 lakh.
- Farmers of the state will become self-reliant and farmers will get financial assistance.
- With the launch of the scheme, the financial condition of banks will improve significantly.
Eligibility Criteria Of Karnataka Coop Banks Loan Interest Waiver Scheme 2024
To provide the benefit of Karnataka Coop Banks Loan Interest Waiver Scheme, the government has set some eligibility for the farmers, the details of which are as follows.
- Only farmers who are permanent residents of Karnataka state are eligible to avail the benefits of this scheme.
- Only those farmers who have outstanding loans from district cooperative banks will be able to avail benefits under this scheme.
- Farmers should have all the necessary documents to apply for this scheme.
Required Documents Of Karnataka Coop Banks Loan Interest Waiver Scheme 2024 Registration
The details of the important documents required by farmers for Karnataka Coop Banks Loan Interest Waiver Scheme 2024 Registration are as follows.
- Aadhaar Card
- identity card
- income certificate
- bank passbook
- Address proof
- mobile number
- mail id
- passport size photo
Process Of Karnataka Coop Banks Loan Interest Waiver Scheme 2024 Apply Online
Karnataka Coop Banks Loan Interest Waiver Scheme Apply Online has not been started yet, first, the official website for this scheme will be released, and after that, the step-by-step details of the entire process of applying are as follows.
- Visit the official release for the scheme.
- On the home page, click on the option of cooperative bank loan interest waiver.
- Now click on the link for the online application on the next page.
- Karnataka Coop Banks Loan Interest Waiver Scheme Application Form will open on the new page in which enter all the required details.
- Now upload all the required documents and click on the submit option.
- In this way, you will easily be able to Karnataka Coop Banks Loan Interest Waiver Scheme Apply Online.
| Official Website | Available Soon |
| For Latest Updates | Yojanaregistration.co.in |