To entice farmers before the general election the government is going to try a new game changer . Reserve Bank of India ( RBI) , a high-powered committee 's recommendation in favor of raising the morale and the government . Between the Finance Ministry and the RBI on the preparation of the draft scheme is being pursued .Finance Minister P Chidambaram , Tamil Nadu, farmers' bank account two days before three hundred crores of crop insurance also expressed its intention to transfer . Chidambaram had recently said that farmers need to be given renewed impetus . Finance Minister RBI Governor Raghuram Rajan 's close aide taking over the day, the committee had Nachiket Mor . The committee gave its report within four months . It says that banks should be allowed to fix the rate of loans to farmers . If the government wants to give them a subsidy , the separate Direct Benefit Transfer ( DBT ) the amount of interest subsidy under the scheme must provide bank account .
According to sources , the farmers' bank account to transfer the subsidy would not have much trouble because banks already have all his records . Farmers like LPG customer base card and will not have the hassle of opening a bank account . Just seven per cent on loans up to Rs three lakh farmers find interest . The center meets the interest of two per cent . If the farmer pay them on time and is subsidized by one per cent . Four per cent interest to farmers like himself , while three per cent subsidies . March 2013 figures were 7.03 million loans for farmers . 6.07 lakh crore last year, banks had disbursed agricultural loans . This year 7.25 lakh crore as loan to farmers goal ..jpg)
Just before the last general election was announced farm loan waiver scheme . Under this scheme, more than thirty million farmers have been forgiven a debt of Rs 53,000 crore . The election was won . This was considered a major victory for the loan waiver scheme .