RBI has raised the limit of collateral-free agricultural loans to.....lakh from the current Rs. 1 lakh with a view to help small and marginal farmer.

BANKING GENERAL KNOWLEDGE

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

RBI has raised the limit of collateral-free agricultural loans to____lakh from the current Rs. 1 lakh with a view to help small and marginal farmer.

A	Rs 10, 00, 000
B	Rs 5, 40, 000
C	Rs 2, 00, 000
D	Rs 1, 60, 000

Explanation:

Detailed explanation-1: -Keeping in view the overall inflation and rise in agriculture input cost over the years since 2010, it has been decided to raise the limit for collateral free agricultural loans from the existing level of ₹1 lakh to ₹1.6 lakh.

Detailed explanation-2: -Eligible loan amount to be calculated based on doses as mentioned for CC limits. For loans to SHGs up to Rs. 10.00 lakh, no collateral and no margin will be charged. No lien should be marked against savings bank account of SHGs and no deposits should be insisted upon while sanctioning loans.

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: -(i) For loans to SHGs up to ₹10.00 lakh, no collateral and no margin will be obtained. No lien should be marked against savings bank accounts of SHGs and no deposits should be insisted upon while sanctioning loans.

Detailed explanation-5: -NABARD-National Bank For Agriculture And Rural Development.

There is 1 question to complete.