RBI Hikes the Limit for Collateral-Free Agricultural Loans from 1.6 Lakh to 2 Lakh Per Borrower
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- Last Updated on 9 December, 2024
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Circular No. RBI/2024-2025/96 FIDD.CO.FSD.BC.No.10/05.05.010/2024-25; Dated: 06-12-2024
The RBI has decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of Rs. 1.6 lakh to Rs. 2 lakh per borrower. This decision is taken by considering the overall inflation and rise in agriculture input cost over the years. Further, banks are advised to waive collateral security and margin requirements for agricultural loans, including loans for allied activities up to Rs. 2 lakh per borrower.
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