nationwide There is good news for farmers. Now they can easily take a loan up to Rs 2 lakh from the bank without any guarantee. Let us tell you that in order to provide relief to the farmers from rising inflation, the Reserve Bank of India (RBI) has now announced to provide loan up to Rs 2 lakh without guarantee. Currently this limit is Rs 1.6 lakh. While giving information about the monetary policy review, RBI Governor Shaktikanta Das said on Wednesday that in view of inflation and increase in the cost of raw materials used in agriculture, it has been decided to increase the limit of guarantee-free agricultural loan from Rs 1.6 lakh to Rs 2 lakh. The decision has been made.
Small farmers will benefit the most
Das said that this will increase the scope of small and marginal farmers to take loans from banks. It is noteworthy that in 2010, RBI had set a limit of Rs 1 lakh to be given to the agriculture sector without any guarantee. Later, in 2019, it was increased to Rs 1.6 lakh. RBI said that a circular in this regard will be issued soon.
growth rate estimate reduced
The Reserve Bank of India (RBI) on Friday, in the fifth bi-monthly monetary policy review of the current financial year, did not make any change in the policy rate repo for the 11th consecutive time and kept it at 6.5 percent. Along with this, in view of the current situation, RBI has reduced the estimate of economic growth rate from 7.2 percent to 6.6 percent. RBI has increased the retail inflation estimate from 4.5 percent to 4.8 percent in the current financial year. RBI Governor Shaktikanta Das informed about these decisions taken in the three-day meeting of the Monetary Policy Committee (MPC) which started on Wednesday.
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