RBI Increases Loan From 1.6 Lakhs To Rs. 2 Lakhs For Farmers
The Reserve Bank of India (RBI) has delivered good news for farmers by increasing the limit for collateral-free agricultural loans. Previously, farmers could avail of loans of up to ₹1.6 lakh without providing any security. This cap has now been raised to ₹2 lakh, effective from January 1, 2024.
Click Here To Join Us On WhatsApp
The RBI explained that the decision was made considering rising agricultural expenses and inflationary pressures. The increased loan facility aims to support farmers in financing crop cultivation and other agricultural needs.
Under RBI guidelines, banks are expected to provide loans to land-owning farmers without demanding collateral. However, field-level implementation has often been inconsistent, with some banks offering such loans only to farmers with existing deposits.
Click Here To Join Us On WhatsApp
Due to these challenges, many farmers have been compelled to borrow from private moneylenders at high interest rates, pushing them into debt. The Ministry of Agriculture emphasized the need for enhanced credit facilities, citing rising agricultural input costs.
According to the ministry, this revised loan policy will benefit approximately 86% of small and marginal farmers across the country, offering significant financial relief.
Next Story:
Telangana Govt Committed To People Welfare In Budget: Bhatti Vikramarka
![Telangana Govt Committed To People Welfare In Budget: Bhatti Vikramarka]()
Telangana Deputy CM Bhatti Vikramarka holds pre-budget meeting with officials to focus on welfare, jobs, skill development and industrial growth.
Eagle Busts Interstate Synthetic Drug Racket
![Eagle Busts Interstate Synthetic Drug Racket]()
Hyderabad, Mar 10 (Maxim News): In a significant breakthrough, the Telangana Elite Action Group for Drug Law Enforcement team has busted an inter-state synthetic drug manufacturing racket operating from Agra. The police seized 886 litres of chemical substances and specialised equipment used in drug production. Acting on specific intelligence, the EAGLE team conducted a covert…
India Assures Bangladesh OF 5,000 Tons Of Diesel Supply Through Pipeline
![India Assures Bangladesh OF 5,000 Tons Of Diesel Supply Through Pipeline]()
Delhi/Hyderabad, Mar 10 (Maxim News): India has taken a major step towards alleviating the fuel crisis in neighbouring Bangladesh. India on Tuesday supplied 5,000 tonnes of diesel through the Parbatipur border pipeline as part of a bilateral agreement between the two countries. Bangladesh has signed an agreement to import 1.8 lakh (1,80,000) tonnes of diesel…
Mutual Fund Investors Are The Ones Who Trust In Difficult Times
![Mutual Fund Investors Are The Ones Who Trust In Difficult Times]()
Hyderabad, Mar 10 (Maxim News): Investors who had been circling around metals like gold, silver, and copper until a few days ago have now changed their route. They have changed their investment plans again, saying no to ETFs and oly equities during the war. Let’s now find out the details of what mutual fund investors…
Not A Single Eligible Voter Name Will Be Removed: CEC Gyanesh Kumar
![Not A Single Eligible Voter Name Will Be Removed: CEC Gyanesh Kumar]()
Kolkata/Hyderabad, Mar 10 (Maxim News): Chief Election Commissioner Gyanesh Kumar has said that no eligible voter’s name will be removed from the voter list. It is known that the assembly elections will be held in West Bengal in a few days. In this context, the CEC has been touring Bengal for two days to inspect…
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News update
