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India raises loan limit for farmers to ₹2 lakh, aiding cost burdens and boosting agricultural credit.
The Reserve Bank of India has raised the collateral-free loan limit for farmers from ₹1.6 lakh to ₹2 lakh, effective January 1, 2025, to help small and marginal farmers cope with rising costs.
This move aims to improve credit accessibility and support agricultural growth, benefiting over 86% of farmers.
The initiative complements the government's loan scheme offering loans up to ₹3 lakh at a 4% interest rate.
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La India eleva el límite de los préstamos para los agricultores a 2 lakh, lo que contribuye a la carga de los costes e impulsa el crédito agrícola.