It has been decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of ₹1.6 lakh to ₹2 lakh per borrower. Accordingly, banks are advised to waive collateral security and margin requirements for agricultural loans including loans for allied activities upto ₹2 lakh per borrower.The banks are advised to give effect to the revised instructions expeditiously and in any case not later than January 1, 2025.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12755&Mode=0
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