Rajasthan Government Launches One Time Settlement Scheme for Farmers and Small Entrepreneurs
| Category | Details |
|---|---|
| State | Rajasthan |
| Scheme | One Time Settlement Scheme (OTS) |
| Target Beneficiaries | Farmers and small entrepreneurs |
| Number of Beneficiaries | 36,351 defaulting loan members |
| Government Expenditure | Rs. 200 crore |
Mains Relevant
| Category | Details |
|---|---|
| Objective | Financial crisis relief and stability of Land Development Banks |
| Key Provisions | 100% interest rebate for full principal repayment by 1st July 2024; 5% subsidy for eligible borrowers |
| Overdue Loans | Rs. 760 crores in Cooperative Land Development Banks |
| Land Development Banks | Cooperative banks for agriculture and rural development; established in 1920 |
| Loan Details | Long term loans (20-30 years), up to 50% land value or 30x annual revenue |
| Interest Rate | 11-12% |