This just in:

State PCS





Daily Updates

Rapid Fire

Extension of Modified Interest Subvention Scheme

  • 31 May 2025
  • 2 min read

Source: PIB 

The Union Cabinet has approved the continuation of the Modified Interest Subvention Scheme (MISS) for FY 2025–26. 

Modified Interest Subvention Scheme (MISS)  

  • About: Launched in 2006–07 as Interest Subvention Scheme. 
    • MISS is a Central Sector Scheme under the Ministry of Agriculture and Farmers’ Welfare (MoA&FW) 
    • It provides concessional short-term credit for agriculture and allied activities via KCC.  
    • While loans are sanctioned at 7% interest, a 3% Prompt Repayment Incentive (PRI), given for prompt and timely repayment of loans reduces the effective rate to 4%, making credit more affordable. 
  • Implementation: Jointly implemented and monitored by RBI and NABARD with Public Sector Banks, RRBs, Cooperative Banks and Private Sector Banks. 
  • Key Features: 
    • Revolving credit facility under KCC for up to 5 years with flexible withdrawals. 
    • Collateral-free loans up to Rs 2 lakh. 
    • Interest relief up to 1 year during natural calamities, extendable to 5 years for severe disasters. 
    • Targets small and marginal farmers, who account for 76% of agri-credit accounts. 
    • The government launched the Kisan Rin Portal (KRP) to digitally track interest subvention claims. 
  • Kisan Rin Portal (KRP) 
    • Launched in 2023 collaboratively by MoA&FW, Ministry of Finance, RBI, and NABARD. 
    • KRP aims to track interest subvention claims digitally, ensuring faster disbursement, greater transparency, and accountability, benefiting both farmers and banks.
Read More: Agriculture Development in India, Agricultural Initiatives and their Implementation   
close
SMS Alerts
Share Page
images-2
images-2