BHUBANESWAR: With the Centre making Kisan Credit Card (KCC) a pre-requisite for claiming interest subvention for short-term crop loan from April 1, the State Government has extended the repayment period by 12 months.
In a circular to all Collectors, the Cooperation department said the due date of repayment for loans taken by farmers will be fixed after 12 months from the date of the first dose of disbursement for short duration crops while in case of long duration crops, the time limit is 18 months. This will be applicable for credit disbursed at the PACS.
At the district central cooperative banks (DCCBs), the repayment period for loans sanctioned for PACS will be after 12 months. The existing timeline of 12 months will continue for refinance by the Odisha State Cooperative Bank (OSCB). However, this will be applicable to crop loan both short and long duration given for Kharif 2019 and Rabi 2019-20.