Skip to main content
  • Easy Loan Scheme for Rural Households with Interest SubsidyThe central government is planning yet another loan scheme, but this time only for rural households. The Modi Government may soon introduce a new easy loan scheme under which small loans to rural households would be provided at a subsidized interest rate of 4% to 7%. Under the new loan scheme, rural households would be able to secure small loans at lower interest rates and without any security deposit.
  • Under the new scheme, a loan of up to Rs. 1 Lakh would be provided to poor rural households in the coming 3 to 5 years. As per the reports in Economic Times, the loans would be provided at a subsidized interest rate of 4% to 7% without any security collateral. The government is said to have simplified the process of accessing the loan and is working on the details of the scheme.
  • There are about 8.5 Crore poor rural households in the country as per the Socio-Economic Cast Census who may require such easy loans to fulfill their everyday needs.
  • The new loan scheme would definitely prove to be of great help to the rural households who can not afford loans at such high-interest rates or are even not able to access loans at all.
  • The scheme is expected to be out soon, the complete details would be available once the scheme is launched.