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Farm loans up to ₹2 lakh to be collateral free: RBI

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Dec 14, 2024 01:05 PM IST

The government categorises agricultural credit, critical for farmers, who depend on it to meet cultivation costs, as priority-sector lending

The Reserve Bank of India (RBI) has asked all banks to waive collateral, mortgage and any margin deposits against farm loans up to a limit of 2 lakh, the central bank said on Saturday. The new rule will be applicable from January 2025.

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