- Recent Update
A new initiative called BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation) has been introduced under this scheme. - Key Details
- Aim: To bridge gaps in farm infrastructure and boost investments in rural and agricultural projects.
- Scheme Type: Fully funded by the Central Government.
- Managed By: NABARD (National Bank for Agriculture and Rural Development).
- Duration: Active until 2032–33.
- Goal
To provide long-term loans for projects related to post-harvest facilities (e.g., storage, processing) and community-based farming assets.
- Main Features
- Launched In: May 2020 as part of the Self-Reliant India Campaign.
- Eligible Beneficiaries:
- Farmers,
- Rural credit societies (PACS),
- Farmer producer groups (FPOs),
- Self-help groups (SHGs),
- State agricultural agencies.
- Financial Support
- Loans worth ₹1 Lakh Crore with a 3% annual interest discount.
- Credit guarantees for loans up to ₹2 Crore under the CGTMSE (a government-backed guarantee scheme).
- Approved Projects
- Supply chain infrastructure for crop clusters (including export-focused groups).
- Public-private partnership (PPP) projects by government bodies.
- Units producing organic fertilizers, bio-stimulants, or tech-driven farming tools.
- Oversight
- Tracked via an online platform for transparency.
- Monitoring committees at national, state, and district levels ensure accountability.
- BHARAT Initiative
- Encourages banks to fast-track loans for farm projects through healthy competition.
- Focuses on maximizing benefits for rural communities.
- Advantages
- For Farmers: Less post-harvest waste and fewer middlemen.
- For Government: Supports startups and agri-entrepreneurs in underfunded sectors.
- For Consumers: Affordable agricultural products.