SME Times News Bureau | 22 Jul, 2015
The Cabinet Committee on Economic Affairs (CCEA) on Tuesday allowed bulk exports of rice bran oil and removed restrictions on export of organic edible oils, sources said.
They said that export of edible oils has been prohibited since March 17, 2008 but certain exemptions have been allowed from time to time.
Meanwhile, the union cabinet approved a scheme for interest subvention for public sector banks, private banks, cooperative banks, regional rural banks and NABARD for providing short-term crop loan to farmers, sources said.
They said this will enable these banks to provide short-term crop loans of up to Rs.3 lakh to farmers at 7 percent per annum during 2015-16.
The sources said the cabinet decided to provide interest subvention to small and marginal farmers having Kisan Credit Cards for loans against negotiable warehouse receipts post-harvest at 7 percent per annum interest for six months.
