{"id":16795,"date":"2024-12-14T16:21:12","date_gmt":"2024-12-14T10:51:12","guid":{"rendered":"https:\/\/asiannewsservice.in\/en\/?p=16795"},"modified":"2024-12-14T16:21:12","modified_gmt":"2024-12-14T10:51:12","slug":"rbi-increases-collateral-free-agricultural-loan-limit-from-%e2%82%b91-6-to-%e2%82%b92-lakh","status":"publish","type":"post","link":"https:\/\/asiannewsservice.in\/en\/rbi-increases-collateral-free-agricultural-loan-limit-from-%e2%82%b91-6-to-%e2%82%b92-lakh\/","title":{"rendered":"RBI Increases Collateral-Free Agricultural Loan Limit from \u20b91.6 to \u20b92 Lakh"},"content":{"rendered":"<p>Delhi, Dec 14<br \/>\nIn a significant move to support the agricultural sector and address rising input costs, the Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities. The existing loan limit of \u20b91.6 lakh per borrower has been raised to \u20b92 lakh.<\/p>\n<p>This decision acknowledges the impact of inflation and the increasing cost of agricultural inputs on farmers. It aims to provide enhanced financial access to farmers, ensuring they have sufficient resources to meet their operational and developmental needs without the burden of providing collateral.<\/p>\n<p>Effective January 1, 2025, banks across the country are instructed to:<\/p>\n<p>Waive collateral security and margin requirements for agricultural loans, including loans for allied activities, up to \u20b92 lakh per borrower.<br \/>\nExpeditiously implement the revised guidelines to ensure timely financial assistance to the farming community.<br \/>\nBanks are instructed to provide widespread publicity to these changes to ensure maximum outreach and awareness among farmers and stakeholders of their operational area.<br \/>\nThis move enhances credit accessibility, particularly for small and marginal farmers (over 86% of the sector), who benefit from reduced borrowing costs and the removal of collateral requirements. By streamlining loan disbursement, the initiative is expected to increase the uptake of Kisan Credit Card (KCC) loans, allowing farmers to invest in agricultural operations and improve their livelihoods. Combined with the Modified Interest Subvention Scheme, offering loans up to \u20b93 lakh at a 4% effective interest rate, this policy strengthens financial inclusion, supports the agricultural sector, and fosters credit-driven economic growth, aligning with the government\u2019s long-term vision for sustainable agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Delhi, Dec 14 In a significant move to support the agricultural sector and address rising&#8230;<\/p>\n","protected":false},"author":3,"featured_media":73,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[],"class_list":["post-16795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-national"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI Increases Collateral-Free Agricultural Loan Limit from \u20b91.6 to \u20b92 Lakh - 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