60-days interest waiver on farm loans: Modi

New Delhi - "The cost of the 60-day interest waiver will be directly transferred to the farmers account."

Prime Minister Narendra Modi on Saturday announced a 60-day interest waiver for farmers who have taken loans from district co-operative banks and co-operative societies.
"The government has decided to waive 60-days interest waiver for loans taken by farmers who have taken loans from district co-operative banks and co-operative socities for the Rabi sowing season," the Prime Minister said in his address to the nation.
"The cost of the 60-day interest waiver will be directly transferred to the farmers account."
Prime Minister Modi addressed the nation a day after the nearly two-month long demonetisation exercise came to end.
He added that the senior citizens of the country would get eight per cent interest rate on fixed deposits up to Rs 7.5 lakh.
"For senior citizens, we have decided that up to the amount of Rs 7.5 lakh in fixed deposits for 10 years, they would get the interest rate of eight per cent," Modi said in his address to the nation of New Year's Eve.
He also said that the amount earned in interest can be withdrawn on monthly basis too.
He also announced that the government would give the rebate of three and four percent on interest rates to the people who seek loans to build their houses in 2017.
"To make the people of the middle class and the poor to buy or build their homes, the government has brought to schemes under the Pradhan Mantri Awas Yojana," Modi said in his address to the nation on New Year's Eve.
He said a concession of four per cent will be given to those take a loan of up to Rs 9 lakh and three percent on Rs 12 lakh.
The Prime Minister also said that the government would also build 33 per cent more houses in the villages under the Pradhan Mantri Grameen Awas Yojana.
Modi also said that those who want to modify their building or houses, would get three per cent concession on loan of upto Rs 2 lakh.
Prime Minister Narendra Modi also  announced a scheme to provide pregnant women financial aid of Rs 6,000 as part of efforts to bring down the maternal mortality rate.
"The scheme will be applicable across the over 650 districts of the country. Under this scheme a pregnant woman will be provided with Rs 6,000 for covering hospital admission, vaccination and nutritional food," said Modi in his special address to the nation on New Year's Eve.
"The money will be directly transferred to pregnant women bank accounts," he said, adding that it "will greatly help in bringing down maternal mortality rate".
Currently the scheme is being implemented on a pilot basis in 53 districts with the benefit amount being Rs 4,000.
 

• India