Arunachal Pradesh Chief Minister Krishi Rinn Yojana
Pema Khandu has already announced a welfare scheme for the agricultural workers of residing and farming in the state in the month of May, 2017. As per the guidelines of the scheme, it scheme will provide relief to the farmers from the pressures of paying the huge interest of the credits they have taken to meet the requirements of farming. Chief Minister Krishi Rinn Yojana will also provide the agricultural labors with credit in the future without charging any interest on that amount as well. All activities, associated with the implementation of the scheme will commence from October 2017.
Key features of the scheme
- Main aim – Farmers all over the state has to tackle the issue of finance for raising a crop during the sowing and reaping reason. With the implementation of this program, the financial shortcomings can be eliminated with interest free credit to all farmers.
- Credit without any interest – Apart from paying the principal sum back, the farmers also have to make arrangements for repaying the credit interest. With this loan system, they need not pay any interest. They can concentrate on the payment of the actual sum.
- Loan for raising a crop – The farmers will be able to apply for the loan from the respective institutes only for taking care of the expenses that are associated with farming requirements.
- Credit issuing agency – The loan will be transferred in the bank account of the applicant. Not all banks will be selected to be a part of the scheme. The applicants who desire to get the loan need to open an account in any of the selected banks.
- Subsidy of the interest – The holders of the Kisan Credit pass will be entitled to acquire a waiver of 4% on the entire credit amount. Apart from this, if a farmer does not miss any EMI payment, then they will be entitled to get an additional 3% subsidy. Overall, they will be not have to pay any kind of interest.
- Limit of the credit – The upper limit of the credit amount is 3 lakhs only. If the farmer has applied to get a loan that is more than the specified amount, then they need to pay the interest as per the credit scheme.
- Beneficiaries of the scheme – With the implementation of the scheme, around 7500 agricultural labors will be benefitted with the interest less credit. The figure has been published by the state authority.
- Shortcomings of the scheme – In case the farmer raises any plantation or perennial crop, then they will not be able to apply for the credit as the money will be available for standard crops only.
Eligibility criteria of the scheme
- Residential requirements – As the scheme has been designed and developed for assisting the farmers of the state, only those who have residential proof to confirm that they are actually residents of the region.
- Type of farers – The scheme was implemented for providing financial assistance to the agricultural labors who can be categorized as small or medium farmers.
- Loan related criteria – A credit that is either less than or amounts to 3 lakhs will be considered eligible as per the rules of the scheme.
Getting the application form
For the assistance of the interested candidates, the state government has kept the modes of online and offline application procedure open. The banks that have been selected by the state authority will provide the registration form. If a farmer is interested in online application, the form can be acquired by clicking on the link http://itanagar.nic.in/scheme.html for downloading the application document.
Registration procedure of the scheme
- The interested farmers can visit the official website of the scheme to get the registration form. It can also be downloaded and a printout can be acquired.
- Once you have the application document, it must be filled up with the respective details that has been asked.
- Make sure that the data entered in the application form is correct. Some documents are also required for the verification procedures.
- After filling the form, the submission of the document must be done at the office of the circle officer or the branch manager of any of the selected banks.
- It is the responsibility of the circle officer to issue a list of candidates who have been shortlisted. The certification of land possession for every candidate is also issued.
- The issuance of the certificate is the signal to the farmers that they can now approach any selected bank and submit the papers for acquiring the farming loan accordingly.
Selected banks under the scheme
- Arunachal Pradesh State Cooperative Apex Banks
- Commercial banks
- Arunachal Pradesh Rural Bank
Any bank that has the registration of the apex authorities and follows the rules of RBI and NABARD have been selected by the state authority.