Amaravati: Under the YSR-Sunna Vaddi Panta Runalu Scheme from Kharif 2019, the AP Govt has agreed to provide Interest Free Crop loans. The scheme is being launched on Tuesday tomorrow by AP CM YS Jagan. Interest-free crop loans will be available for all farmers who have taken advantage of crop loans up to Rs 1 lakh from Kharif 2019 onward and repaid within the defined duration of a maximum of one year from the date of disbursement of the crop loan. It will shield farmers from heavy debt and mobilise the maximum number of farmers towards institutional loans. The goal of the scheme is to: reduce the financial burden on small and marginal farmers by providing Sunna Vaddi with crop loans; establish financial discipline among borrowers through timely repayment of loans; provide e-Crop data on crop loans and early repayment benefits to actual farmers; Developing further transparency by directly transferring scheme benefits to farmers' accounts and showing the lists of beneficiaries at RBKs for Social Audit, which also aims to mobilise overdue loan farmers.
The Government has approved the YSR-SVPR Guidelines for the implementation of the program in response to the proposals submitted by the Department with effect from Kharif 2019. On November 17, the Department initiated the process of receiving claims related to kharif 2019 to provide the value of the scheme to actual cultivators. The proposed quantity of claims for Kharif 2019 is as follows: the number of farmers taking out crop loans (48.60 lakhs), the number of farmers taking out crop loans up to Rs 1 lakh (27.70 lakhs), the number of householders now eligible for loans (14.28 lakhs) (timely repayment) and the amount of subsidies: Rs 510.30 crore.
Under the scheme: loan disbursement to eligible farmers is carried out via all bank branches, repayment of the loan amount (principle) with interest will be paid by the farmer to the bank branch within the stated period (within a year), Bank will have a Nodal Branch (SPOC) to upload the claims through MIS macro sheet, Nodal Branch will collect, compile and check branch data throughout AP in macro sheet and uploading of the text files in the web portal (YSR SVPR) year wise and season wise.