RBI Increases Collateral-Free Agricultural Loan Limit
On 14th December 2024, to support the agricultural sector and address rising input costs, the Reserve Bank of India announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities.
- The limit for collateral-free agriculture loans was last revised in 2019.
Key Points
New Loan Limit: Collateral-free loans for farmers will increase from Rs 1.6 lakh to Rs 2 lakh.
Effective Date: From 1st January 2025.
Complementary Measures: The new loan scheme aligns with the government’s Modified Interest Subvention Scheme, which offers loans up to Rs. 3 lakh at a reduced interest rate of 4%.
Instructions to Bank
- Waive ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Scheme for Strengthening Medical Device Industry
- 2 Regulatory Framework for Restricted Return InvITs
- 3 World’s First Co2 to Methanol Plant
- 4 Peak Oil
- 5 India’s Renewable Energy Sector Achieves Significant Growth
- 6 4th Phase of Consolidation of RRBs
- 7 RBI’s Framework for Reclassification of FPI to FDI
- 8 RBI’s 2024 List of Domestic Systemically Important Banks
- 9 Windfall Gain Tax
- 10 National Mission on Natural Farming
- 1 Parliamentary Committee Report on Agriculture Distress
- 2 RBI Committee on FREE-AI
- 3 State Finances: A Study of Budgets of 2024-25
- 4 55th Meeting of the GST Council
- 5 SEBI Widens Scope of Optional T+0 Rolling Settlement Cycle
- 6 Committee of Creditors
- 7 MuleHunter.AI: Combating the Issue of Mule Accounts
- 8 Annual Survey of Unincorporated Sector Enterprises, 2023-24
- 9 India-ADB Agreement under SMILE Program
- 10 First Report of Standing Committee on Petroleum and Natural Gas
