RBI raises collateral-free farm loan limit to Rs 1.6 lakh
Updated : February 07, 2019 01:22 PM IST
The central bank also decided to set up an internal working group (IWG) to review agricultural credit and arrive at a workable policy solution.
The Union Budget had also announced measures to boost the farming sector in addition to annual payment of Rs 6,000 to small and marginal farmers.
Currently, the banks are mandated to extend collateral-free agricultural loans up to Rs 1 lakh. This limit was fixed in the year 2010.
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