The ripples from Silicon Valley Bank’s collapse have flipped market expectations of Fed policy, from further rate rises to cuts by the end of the year. As inflation falls and the US economy slows, the Fed faces a trade-off between growth and inflation, with the added complication of ensuring financial market security.
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2% additional concession for farmers who repay on time
The Maharashtra Cabinet on Thursday cleared a proposal to provide crop loans up to ₹3 lakh at zero interest rate. Under the Dr. Punjabrao Deshmukh Interest Concession Scheme, farmers who repay their interest of loans up to ₹3 lakh get interest subsidy.
The decision was taken at the State Cabinet meeting chaired by Chief Minister Uddhav Thackeray. Finance Minister Ajit Pawar, while presenting the State budget for 2021-22, had announced that crop loans up to ₹3 lakh will be charged at zero per cent interest. The State government was earlier extending interest concession of 3% to non-defaulters with crop loans up to ₹1 lakh and 1% concession in interest rate if crop loans between ₹1 lakh and ₹3 lakh was repaid on time. The scheme was aimed at encouraging non-defaulters.