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Economy: Kindly explain the interest subvention scheme.

Reference: http://pib.nic.in/newsite/PrintRelease.aspx?relid=187304

Specific Doubt is this:
What is the Interest to be paid by Prompt Payees?
It is written that Central Govt. will provide 5% additional subvention to Prompt Payees.
This means, Prompt Payees would get the loan at 7-5= 2% effective rate, right?
But in the document it is written that Prompt Payee Farmers will get it at Effectively 4%?

Please provide clear explanation in 4-5 lines, covering specific Interests Slabs.


Comments

  • 2% for all..
    Additional 3% for prompt paying farmers..
    Net applicable RoI 9-2-3=4% for prompt paying farmers..
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