Collateral free agricultural loan limit enhanced up to 1.60 lakh

Currently the banks are mandated to extend collateral-free agriculture loans up to Rs.1 lakh. This limit of Rs.1 lakh was fixed in the year 2010.In view of overall inflation and rise in agriculture input cost since 2010, Reserve Bank of India vide its circular RBI/2018-19/118 FIDD.CO.FSD.BC.No.13/05.05.010/2018-19 dated February 7, 2019 advised all the scheduled commercial…

Kisan Credit Card (KCC) Scheme for Animal Husbandry and Fisheries

Pursuant to announcement in interim budget 2019, Reserve Bank of India carried out circular asking banks to extend the facilities of Kisan Credit Card (KCC) to Animal Husbandry farmers and Fisheries to help them meet their working capital requirements. According to RBI circular FIDD.CO.FSD.BC.12/05.05.010/2018-19 dated Feb 4, 2019, the new KCC facility will include the…

What are the latest guidelines on Priority sector lending and targets?

Updated up to :December 28, 2018 Categories under priority sector under revised guidelines:  As per RBI circular RPCD.CO.Plan.BC10/04.09.01/2014-15 dated July 1, 2014, Medium Enterprises, Social Infrastructure and Renewable Energy will form part of priority sector, in addition to the earlier existing categories like Agriculture,Micro Small enterprises,Export credit,education,housing loan, and others (credit to weaker sections). The…