RBI raises collateral-free agricultural loan limit to Rs 2 lakh to support farmers
New Delhi [India], December 14 (ANI): The Reserve Bank of India (RBI) has announced an increase in the limit for collateral-free agricultural loans will be increased from Rs 1.6 lakh per borrower to Rs 2 lakh, effective from January 1, 2025.
According to the Ministry of Agriculture and Farmers Welfare, this decision is aimed at addressing the rising input costs and the growing financial challenges faced by farmers, partic