RBI raises collateral-free agriculture loan limit to Rs 2 lakh per borrower
Mumbai (PTI): The Reserve Bank on Friday enhanced the collateral-free agriculture loans limit to Rs 2 lakh per borrower from the existing Rs 1.6 lakh in view of inflation and rise in farm input costs.
At present, banks are required to extend collateral-free agriculture loans up to Rs 1.6 lakh per borrower.
This limit was enhanced from Rs 1 lakh, set in the year 2010 to Rs 1.6 lakh in the year 2019.
"Taking into account the rise in agricultural input costs and overall inflation, it has been decided to increase the limit for collateral-free agriculture loans from Rs 1.6 lakh to Rs 2 lakh per borrower," RBI Governor Shaktikanta Das announced while unveiling the December monetary policy.
This, he said will enhance coverage of small and marginal farmers in the formal credit system.
The central bank will soon be issuing a circular giving effect to the announcement.
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Man killed in flat ceiling plaster crash, wife and son hurt
Thane (PTI): A 45-year-old man was killed, and his wife and son were injured when a portion of plaster from the ceiling collapsed in their flat in a seven-storey building in Thane on Saturday, officials said.
Chief of the Regional Disaster Management Cell, Yasin Tadvi, said the 16-year-old building is not listed in the "dangerous" category.
"The incident occurred in Karumdev Society at about 3 am. The plaster of the hall in a flat on the terrace floor suddenly fell while the occupants were asleep", he said.
Of the four people who were inside the room, two suffered minor injuries and were discharged after primary treatment, Tadvi stated.
The injured persons were identified as Arpita More (42), who suffered minor head injuries, and her son Arush More (16), who sustained injuries to both legs.
Manoj More (45), who sustained chest injuries, died during treatment at a private hospital.
