On Dec. 6, IND RBI increased limit of collateral free agricultural loans.
IND RBI increased limit for collateral-free agricultural loans from INR 1.6 lakh to INR 2 lakh per borrower; collateral security as well as margin requirements are waived.
The banks are also advised to give adequate publicity to the above changes.
Effectiveness
Banks are instructed to implement revised limit by Jan. 1, 2025, publicize changes.
Regulators
IND RBI
Entity Types
Bank
Reference
Nt RBI/2024-25/96, FIDD.CO.FSD.BC.No.10/05.05.010/2024-25, 12/6/2024; Cir FIDD.CO.FSD.BC.No.13/05.05.010/2018-19, 2/7/2019
