<h1>India Extends Interest Subvention Scheme to Private Banks for 2013-14, Offering Affordable Crop Loans to Farmers.</h1> The Government of India has extended the Interest Subvention Scheme to private sector banks for the fiscal year 2013-14. This initiative aims to provide affordable credit to farmers by offering short-term crop loans up to Rs. 3 lakh at 7% interest per annum. Additionally, an extra 3% interest subvention is available for farmers repaying loans within a year. Public sector banks' agricultural loan exposure stood at Rs. 5,33,059.75 crore as of June 30, 2013, with significant portions allocated to marginal and small farmers. This information was disclosed by the Minister of State for Finance in a written response to the Lok Sabha.