RBI raises limit of collateral-free agriculture loans to Rs 2 lakh ...Middle East

Mumbai:  The Reserve Bank of India (RBI) has decided to raise the limit for collateral-free agriculture loans from Rs 1.6 lakh to Rs 2 lakh to enhance coverage of small and marginal farmers and permit small finance banks to extend pre-sanctioned credit lines through UPI to small borrowers to ensure greater financial inclusion. The two decisions were announced after the Monetary Policy meeting held here on Friday. At present, banks are required to extend collateral-free agriculture loans up to Rs 1.6 lakh per borrower. This limit was enhanced from Rs 1 lakh, set in the year 2010 to Rs 1.6 lakh in the year 2019. “Keeping in view the overall inflation and rise in agricultural input costs since

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