New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced that the Monetary Policy Committee (MPC) decided to increase collateral free loans in the agriculture sector from Rs 1.6 lakh per borrower to Rs 2 lakh. The move will benefit small and marginal farmers.
While announcing the decisions finalised in the RBI MPC meeting, Das said the limit for collateral-free agriculture loans was last revised in 2019. “Taking into account the rise in agricultural input costs and overall inflation, it has been decided to increase the limit for collateral-free agriculture loans from Rs 1.6 lakh to Rs 2 lakh per borrower. This will further enhance credit availability for small and marginal farmers,” the RBI Governor said.
RBI Policy: Collateral free loan in agriculture sector increased from Rs 1.6 lakh per borrower to Rs 2 lakh, Reserve Bank of India (RBI) Governor Shaktikanta Das announced on December 6, 2024. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
