<h1>NABARD Cuts Long-Term Refinance Rates by 0.20%; Launches Concessional Rates for Horticulture and Plantation Sectors.</h1> The National Bank for Agriculture and Rural Development (NABARD) has reduced interest rates on long-term refinance facilities to banks by 0.20% per annum, effective from June 9, 2014. Additionally, NABARD introduced a scheme offering concessional refinance rates for specific horticultural and plantation activities, with interest rates 0.5% lower than standard refinance rates. This initiative aims to boost capital formation in agriculture and the rural economy by enhancing ground-level credit. While NABARD provides refinance assistance, individual banks set ground-level interest rates, as loan interest rates have been deregulated by the Reserve Bank of India.