The Chief Minister’s Krishi Rinn Yojana (CMKRY) is a farmer-centric initiative launched by the Government of Arunachal Pradesh to provide financial relief and support to farmers. Under this scheme, eligible farmers can avail crop loans up to ₹3.00 lakhs at zero interest, subject to timely repayment. The government provides an interest subvention of 4% on crop loans or Kisan Credit Card (KCC) limits, along with an additional interest relief of 3% for farmers who repay their loans within one year. This ensures that farmers cultivating short-term crops receive affordable credit, reducing their financial burden and promoting agricultural development.
The scheme is implemented through all banks operating in the state, with NABARD acting as the channel partner for reimbursing the interest subvention amount to banks.
Key Benefits of the Scheme
- Zero-Interest Loans: Farmers repaying their loans on time can avail loans up to ₹3.00 lakhs without any interest charges.
- Interest Subvention: The government provides a 4% interest subvention on crop loans, over and above the subvention offered by the Government of India.
- Timely Repayment Incentive: An additional 3% interest relief is provided to farmers who repay their loans within one year.
- Easy Access to Credit: Formal credit channels promote financial inclusion, ensuring farmers have access to affordable loans.
- Target Coverage: The scheme aims to cover 7,500 farmers, contributing to the state’s agricultural growth.
Salient Features of the Scheme
- Loan Limit: Up to ₹3.00 lakhs for crop loans or Kisan Credit Card limits.
- Eligible Banks: Loans can be availed from any bank operating within the state.
- Interest Relief: Farmers making timely repayments are eligible for zero-interest loans.
- Exclusions: The scheme does not apply to perennial food crops or plantation crops.
- Documentation: Farmers must obtain a certificate of cultivated area and crops from the Circle Officer, which is accepted as valid documentation by banks.
Eligibility Criteria
To qualify for the Chief Minister’s Krishi Rinn Yojana, applicants must meet the following criteria:
General Eligibility
- Residency: Must be a resident of Arunachal Pradesh.
- Occupation: Should be actively engaged in agriculture and cultivating short-term crops.
- Loan Amount: Eligible for crop loans or Kisan Credit Card limits up to ₹3.00 lakhs.
- Repayment Record: Must have a good repayment track record and promptly repay short-term production credit (crop loan) within one year.
Target Beneficiaries
- Small and marginal farmers.
- Large farmers cultivate short-term crops.
Exclusions
- Farmers cultivate perennial food crops or plantation crops.
- Non-farmers or individuals not actively involved in agricultural activities.
How to Apply – Offline Process
The application process for the scheme is offline and involves the following steps;
- Obtain Land Holding Certificate: Visit the local Gaon Buras (GBs) or concerned CO/EAC/BDO/SDO/ADC/DC office to obtain a land holding certificate.
- Certification by Circle Officer: The Circle Officer will certify the applicant’s ownership of land and issue a notification regarding the cultivated area and crops.
- Apply at Bank: Submit the loan application at any bank operating within the state.
- Fill Application Form: Complete the application form with accurate details.
- Attach Documents: Submit required documents, including identification proof, land ownership certificate, Aadhaar-seeded bank account details, and income certificates.
- Bank Review: The bank will review the application, assess eligibility, and process the loan request.
- Loan Disbursement: Upon approval, the loan amount will be disbursed to the farmer’s account.
Necessary Documents for Application
To ensure a smooth application process, gather the following documents;
- Land Holding Certificate: Issued by the local Gaon Buras (GBs).
- Notification from State Government: Certificate of cultivated area and crops issued by the Circle Officer.
- Aadhaar Card: As proof of identity.
- Aadhaar-Seeded Bank Account Details: For loan disbursement.
- Income Certificates: If required by the bank.
- Other Requirements: Additional documents as specified by the bank for loan formalities.
Frequently Asked Questions (FAQs)
Who is eligible for the Chief Minister’s Krishi Rinn Yojana?
Farmers cultivating short-term crops in Arunachal Pradesh who hold Kisan Credit Cards or avail crop loans from banks are eligible.
What is the maximum loan limit under this scheme?
The maximum loan limit is ₹3.00 lakhs for crop loans or Kisan Credit Card limits.
How much interest subvention is provided by the government?
The government provides a 4% interest subvention, along with an additional 3% interest relief for timely repayment.
How can farmers avail themselves of the zero-interest credit facility?
Farmers who repay their loans within one year are eligible for zero-interest loans due to the combined interest subvention and relief of 7%.
What crops are excluded from this scheme?
The scheme does not apply to perennial food crops or plantation crops.
Can farmers from all districts of Arunachal Pradesh apply for this scheme?
Yes, the scheme is available to farmers across all districts of Arunachal Pradesh.
Conclusion
The Chief Minister’s Krishi Rinn Yojana is a game-changing initiative aimed at empowering farmers in Arunachal Pradesh by providing them with zero-interest crop loans. By offering financial relief and promoting easy access to formal credit, the scheme reduces the burden of interest payments and encourages sustainable agricultural practices.
If you’re a farmer in Arunachal Pradesh cultivating short-term crops, take advantage of this opportunity to secure affordable credit and contribute to the state’s agricultural development. Visit your nearest bank today and apply for the scheme to benefit from zero-interest loans!
