The portal will be used by banks, the Central Project Management Unit of DA&FW, and Nabard
Harsh Kumar New Delhi
The Union Minister for Agriculture and Farmers’ Welfare, Shivraj Singh Chouhan, on Friday launched a web portal for faster bank settlements of interest subsidy claims under the Agriculture Infrastructure Fund (AIF).
The portal was jointly developed by the Department of Agriculture and Farmers’ Welfare (DA&FW) and the National Bank for Agriculture and Rural Development (Nabard).
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Investments worth Rs 72,000 crore have been mobilised, with Rs 43,000 crore already sanctioned for 67,871 projects under AIF to date, the Ministry of Agriculture & Farmers’ Welfare said in a press statement.
“The newly launched automation of credit claims will ensure timely settlement of claims within a day, which otherwise took months for manual settlement,” said Chouhan.
The portal will be used by banks, the Central Project Management Unit (CPMU) of DA&FW, and Nabard.
The Union Minister further stated that the automated system would help in calculating accurate eligible interest subvention through the portal, avoiding possible human error in manual processing and facilitating faster settlement of claims.
The AIF scheme was launched in 2020 with the objective of developing post-harvest management infrastructure to reduce losses, realise better value for farmers, foster innovation in agriculture, and attract investments for the creation of agricultural infrastructure, with a total outlay of Rs 1 lakh crore funding through banks and financial institutions up to 2025-26.
The scheme provides a 3 per cent interest subsidy to beneficiaries of the scheme for loans given by banks up to Rs 2 crore for a maximum period of 7 years, besides reimbursement of credit guarantee fees paid by banks.
Chouhan also launched Krishi Katha, a blog site meant to serve as a digital platform to showcase the voices of Indian farmers, dedicated to amplifying the experiences, insights, and success stories of farmers across the country.
“Voices and stories of farmers often remain uncovered in the vast and diverse landscape of Indian agriculture. Behind every crop, every field, and every harvest lies a narrative of resilience, struggles, challenges, and triumphs. ‘Krishi Katha’ aims to provide a comprehensive and immersive storytelling space where the narratives of India’s agricultural community can be shared and celebrated,” said the Union Minister for Agriculture and Farmers’ Welfare.
