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The Reserve Bank of India (RBI) has increased the collateral-free agriculture loan limit from Rs 1.6 lakh to Rs 2 lakh to support small and marginal farmers.
Announced after the Monetary Policy meeting on Friday, the move aims to enhance financial inclusion. Additionally, small finance banks can now extend pre-sanctioned credit lines via UPI to small borrowers, improving access to credit.
This is the first enhancement since 2019 when the limit was raised from Rs 1 lakh set in 2010.
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