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Agriculture Loan News: Now No Need of NOC for Crop Loan

Yavatmal: The state government has waived the condition of submitting No Objection Certificate (NOC) from banks and societies while seeking fresh crop loan. This decision that would benefit the farmer community and the government has also decided to waive the stamp duty on the mortgage by farmers for availing crop loan.

State sponsored Vasantrao Naik Shetkari Swavlamban Mission, headed by Kishor Tiwari, he informed, "The easy crop loan distribution scheme would be launched from Wagda village of Kelapur tehsil on May 17."

The scheme is being implemented at the behest of Chief Minister of Maharashtra. Chief minister Devendra Fadnavis, announced that the state would also ensure credit supply to even those farmers who had defaulted on loan repayment after 2012 and that farmers would be given crop loan afresh on or before May 31 after their defaulted crop loan rehabilitation is done.

The Maharashtra State Co-Operative Bank and Bank of Maharashtra have been instructed to release crop loan to the farmers on filing an affidavit and not to insist for a no objection certificate (NOC) from banks and societies.

Source: http://timesofindia.indiatimes.com/