<h1>Refinance rate reduction incentivises agricultural investment via lower long term refinance pricing and targeted rebates for innovative farming.</h1> NABARD reduced long term refinance rates by 20 basis points effective 6 June 2014 (9.50% for five years and above; 9.70% for three-five years) and offers an additional 10 basis points for large single drawals. NABARD also grants a further 50 basis points reduction for financing specified innovative agricultural activities (including protected cultivation with drip and fertigation, precision farming, and post harvest management) and extends the 50 basis points rebate to single purpose area development schemes benefiting small and marginal farmers to promote investment credit and address supply side constraints.