Haryana Interest Subvention Scheme, 2020

Jun 30, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Haryana Finance Department on June 24, 2020 issues the Haryana Interest Subvention Scheme, 2020. This scheme was implemented to provide loans to the weaker section of the society and to boost the economic activities in the times of financial crises due to COVID-19. 

These following verticals are covered under the Interest Subvention Scheme, 2020: 

 For DRI loan the applicant shall be a major in Haryana and the family income shall not be more than 18,000 in the rural areas and 24,000 in the semi-urban areas. 

 2 percent p.a. interest subvention shall be provided by the Haryana Government on behalf of the borrower. 

 Shishu loan under Mudra is applicable to all the people who are major in the State of Haryana and have LLP’s or their firms. 

 2 percent p.a. subvention interest shall be provided under the scheme. 

 Education loan is applicable to all the students who were not able to pay the loans due to the COVID-19 pandemic in the country. 

 Three months of education loan interest from period April 2020 to June 2020 shall be paid by the Government of Haryana. 

[Notification No: IFCC/Acctt/2020/1583]


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