The Reserve Bank of India has directed commercial banks to make linking Aadhaar Mandatory for Farmers to avail short-term crop loans in 2017-2018. "Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18" notification was send to all public and private sector scheduled commercial banks by RBI. This step has been taken by RBI to ensure hassle-free benefits for farmers under interest subvention scheme, the banks are advised to take Aadhaar and link to respective farmers account in order to avail short term crop loans in 2017-2018. This development has been made after approval of central government on the implementation of the interest subvention scheme for the year 2017-18 for short-term crop loans up to ₹3 lakh with some stipulations. To provide short-terms crop loans for farmers upto ₹3 lakh at interest rate of 7% per annum during the year 2017-2018, it has been decided to offer interest subvention of 2 percent per annum to lending institutions vi...
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