Telangana Crop Loan Waiver Scheme 2024- Online Registration

Telangana Crop Loan Waiver Scheme:- To waive off all the agricultural term loans up to Rs. 1 lakh the Government of Telangana has again come up with another great scheme known as Telangana Crop Loan Waiver Scheme. This is another major step that has been taken by the government after the Rythu Bandhu Scheme for the farmers. So today through this article we will share with you all the important information related to the Telangana Crop Loan Waiver Scheme 2024 such as the objective of the scheme, eligibility criteria, benefits of the scheme, and implementation process of the scheme. Along with that, we will also share with you all the application procedures to apply under this Scheme.

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About Telangana Crop Loan Waiver Scheme

The Telangana government has come up with another scheme to benefit the farmers by waiving their loans. Under the Telangana Crop Loan Waiver Scheme, the farmers will be able to waive off their loans up to 1 lakh so that they can live without thinking about any financial burden of loan or the advance which they have taken for agriculture to carry on on their irrigation. Many farmers are not able to pay back their loans due to weak financial conditions and this creates a lot of tension among them to release this tension the government has launched this scheme to waive up to 1 lakh rupees of loan.

Crop Loan Waiver Up To Rs 99,000 From 15th August 2024

The Telangana government announced the implementation of the Telangana Crop Loan Waiver Scheme 2023 with the motive of offering a Financial loan of Rs. 41,000. But on Monday the Finance Minister of State T Harish Rao, announced the waiving off crop loans up to Rs. 99,000. The minister also announced that loans for farmers with more than Rs. 1 lakh would also be forgiven within two weeks. It will be a great financial help for the farmers of Telangana who are facing trouble in their farming. The benefits of the scheme will also be eligible for houses, as the Minister announced the distribution of 424 beneficiaries of three villages of Sangareddy constituency.

Details Of This Scheme

Name of the scheme	Telangana Crop Loan Waiver Scheme
Launched by	Telangana Government
Beneficiary	The farmers of the state
Objective	To waive off the loan upto Rs. 1 lakh
Benefits	This will release the financial burden from the farmers
Waived Loan Amount	Upto Rs. 1 Lakhs
Mode of Application	Not yet declared

Objective Of the Telangana Crop Loan Waiver Scheme

As we all know there are many farmers who due to their weak financial condition are not able to pay back their loans or advances which they have taken from various sources and this creates a financial burden on the shoulders of the farmers. By keeping this in mind the Government of Telangana has launched Telangana Crop Loan Waiver Scheme. Under this scheme, the government will waive off the loan up to Rs. 1 lakh to remove the financial burden from the shoulders of the farmers so that they can live their lives happily.

Also Read: Telangana Rythu Vedika Scheme

Implementation Of Crop Loan Waiver Scheme

For the successful implementation of the Scheme, the Chief Minister of Telangana state has launched an online portal to keep a record of all the activities that have been undertaken under this scheme. With the help of this portal, farmers will be able to get themself registered while sitting at home. The bank will be able to prepare a list of farmers who have outstanding loans. This list will be submitted to the concerned authorities. The district-level bankers’ committee will check the list and after finalizing the list there will be the distribution of cheques among the farmers.

Features And Benefits

The Government of Telangana has launched the Telangana Crop Loan Waiver Scheme for the farmers of the state.
Under this scheme, the loan will be waived up to Rs. 1 lakh in five phases
In the first phase, the government will waive off the crop loan of up to rupees Rs 25000
The incentive will be provided from Rs. 25000 to one lakh in the next four phases
The sanction budget which has been decided by the government for the first phase is up to Rs. 1,198 crore
Rs. 24,738 crores have been sanctioned by the government for the next four phases.
The crop Loan Waiver Scheme will help the farmer to remove the financial burden from their shoulders.
They will be able to live their life happily and without thinking about any burden.

Waived Off Loans Under Crop Loan Waiver Scheme

The various types of loan which are going to be waived off under this scheme are given below

Short-term production loans
Crop loan against gold given by scheduled commercial banks
Cooperative credit institutions including urban cooperative banks and regional rural banks.

Non Eligible Loans

The other types of loans which are not going to be waived off under this scheme are given below

Advance against pledge
Hypothecation of Agricultural products other than
- Standing crops
- Tie up loans
- Closed crop loan accounts/ written-off loans
- Loans to joint liability groups
- Rythu Mitra groups
- Loan eligibility cards
Loans that are restricted and rescheduled

Eligibility Criteria

An applicant must be a permanent resident of Telangana
He or she must be of farmer by profession
This scheme applies to the farmer that has sanctioned the loan after 1st April 2014 and is outstanding till 11 December 2018

Apply For Telangana Crop Loan Waiver Scheme

All the interested applicants who want to apply under the Telangana Crop Loan Waiver Scheme will have to wait for some time as the Government of Telangana has just launched the scheme and the application procedure for the Scheme has not yet been declared by the government of Telangana. As soon as the concerned authority releases the application procedure under this scheme we will update you through our article. Until then if you have any questions or queries related to this scheme you can ask us in the comment box given below.