Small and marginal farmers in Uttar Pradesh will be able to access long-term loans of up to Rs 6 lakh at an effective interest rate of 6% under the newly launched Mukhyamantri Krishak Samriddhi Yojana.
The scheme aims to provide affordable credit for agriculture, allied activities and essential capital investment. Farmers who repay their loan instalments on time will also receive the benefit of interest subsidy from the state government.
The Uttar Pradesh Government has sanctioned Rs 384 crore for the scheme and set a target of benefiting around five lakh farmers over the next five years.
The initiative places the cooperative credit system at the centre of its implementation. The Uttar Pradesh Gram Vikas Sahakari Bank Ltd. and its branches are expected to play an important role in reaching eligible farmers.
At a district-level programme, loan members who had repaid their dues on time were also felicitated.
The government stressed wider outreach through cooperative institutions and simpler, transparent online loan processing.
