Scheme for providing interest relief against long term loans to Sugar Co-operative Societies (General)

The Government of India announced the F.R.P through a notification dated 03/01/2019. It entails a one-year interest subsidy to be repaid by the Government of India from the date of withdrawal of this loan. This subsidy is applicable on the amount of bank loan taken by the State Sugar Cooperatives for allied purposes under the announced scheme for soft loan interest subsidy on loans obtained for the year 2018-19. The purpose is to facilitate the payment of arrears of sugarcane for the following sugarcane prices. The intention is to provide interest relief on the amount of long-term loans taken by the sugar cooperative societies for this purpose by the State Government after the expiry of the period.

• Interest actually paid on the amount of bank loan taken by the Sugar Cooperative or 7 percent, whichever is less, for a maximum period of 4 years or interest concession on loan repayment (whichever is earlier).

Co-operative Institutes are eligible to apply. There are no individual or family income limits. The scheme is applicable across the state.

Online

Application forms are available from the District Registrar and can be submitted to the same office. The application form is plain paper and is free of cost. For more information, visit the Department Link.