Loan to food and agro processing unit up to an aggregate limit of Rs ..... crore are to be classified as Agriculture Advances

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Loan to food and agro processing unit up to an aggregate limit of Rs ____ crore are to be classified as Agriculture Advances

A	50
B	25
C	5
D	100

Explanation:

Detailed explanation-1: -iii. Loans for Food and Agro-processing up to an aggregate sanctioned limit of ₹100 crore per borrower from the banking system. 8.4. 2 Outstanding deposits under RIDF and other eligible funds with NABARD on account of priority sector shortfall.

Detailed explanation-2: -(iii) Loans for Food and Agro-processing up to an aggregate sanctioned limit of Rs 100 crore per borrower from the banking system.. (iv) Bank loans to Primary Agricultural Credit Societies (PACS), Farmers’ Service Societies (FSS) and Large-sized Adivasi Multi-Purpose Societies (LAMPS) for on-lending to agriculture.

Detailed explanation-3: -It shall be subject to 5 times of annual Income (current-predevelopment state) of the farmer including allied activities or 50% of the value of land mortgaged whichever is lower, subject to maximum Rs. 20 lakhs .

Detailed explanation-4: -Agricultural credit has been classified into three categories viz. short-term credit (crop loan), medium-term credit and long-term credit. This classification is based on the periods for which the loan is given. This is to meet the varying needs of the farming community.

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