%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(22).png "RBI Increases Collateral-Free Agricultural Loan Limit from ₹1.6 to ₹2 Lakh")
- This move aims to address the rising input costs faced by farmers and provide them with enhanced financial access.
- Key Points:
- Effective Date: The new limit will be effective from January 1, 2025.
- Beneficiaries: Over 86% of farmers in India, who are small and marginal landholders, will directly benefit from this decision.
- Waiving Collateral and Margin Requirements: Banks across the country are instructed to waive collateral security and margin requirements for agricultural loans up to ₹2 lakh per borrower.
- Swift Implementation: Banks have been directed to implement the revised guidelines swiftly to ensure timely financial assistance to the farming community.
- Widespread Awareness: Banks are instructed to provide widespread publicity to these changes to ensure maximum outreach and awareness among farmers and stakeholders.
Question:
1 As per RBI, What is the new collateral-free agricultural loan limit per borrower?
- A) ₹1.6 lakh
- B) ₹1.8 lakh
- C) ₹2 lakh
- D) ₹2.2 lakh
