The Reserve Bank of India (RBI) will provide loans of up to Rs 2 lakh to farmers as a New Year gift. These loans are especially for small and medium farmers who want to meet their farming needs.
RBI increases agricultural loans: The Reserve Bank has given a New Year gift to farmers. The limit of collateral-free loans available to farmers has been increased to Rs 2 lakh. Farmers will now be able to take loans of up to Rs 2 lakh from banks without giving any collateral. Till now the limit of this loan was Rs 1.6 lakh.
What is RBI Agricultural Loan Subsidy 2025?
New Delhi: The Reserve Bank (RBI) has given a New Year gift to farmers. The Reserve Bank has increased the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh. Now any farmer will be able to take a loan of up to Rs 2 lakh for agriculture without giving any kind of mortgage. The Reserve Bank announced this on Saturday. This increased loan limit will be effective from January 1, 2025.
Who will benefit from RBI Agricultural Loan Subsidy 2025?
- Small and medium farmers are eligible.
- Farmers who plant crops deserve to receive it.
- Farmers running small scale industries related to agriculture are eligible.
Benefits of RBI Agricultural Loan Subsidy 2025:
- No need to pledge.
- Loans available at low interest rates.
- Bonuses or interest relief may be available for timely payments.
- Helps in reducing farming costs and helps in increasing production.
Contact quickly and apply on time to take advantage of this program.
Eligibility Criteria for RBI Agricultural Loan Subsidy 2025:
- The applicant must be a citizen of India.
- There should be a farmer or farmer group doing agricultural work.
- The farmer must have proof of ownership of the land.
- Must have a good track record of paying off previous loans (if any have taken loans previously).
Documents required for RBI Agricultural Loan Assistance 2025:
- Identity proof (Aadhar card, Election card, PAN card)
- Address proof (ration card, electricity bill, water bill)
- Proof of land ownership (land documents, 7/12 extract)
- Details for bank passbook or account
- Passport size photograph
- Mobile number
Application process for RBI Agricultural Loan Assistance 2025:
- Go to the nearest bank branch, which is approved for the loan program.
- Contact the bank’s loan officer and get the necessary information.
- Fill out the loan applicant form and submit it along with the required documents.
- The bank will approve the loan after verifying your documents.
- The loan amount will be deposited in the designated bank account as soon as the loan is approved.
>> Special Note – You can go to any bank and apply for this collateral free loan up to Rs 2 lakh. For this, the farmer will not need to pledge anything of any kind. However, you will be able to apply for this loan only from 1 January 2025. Not before that.