Mumbai, April 28
THE Reserve Bank of India proposes to double the limit of loans to farmers under the post-harvest produce marketing scheme to Rs 10 lakh from Rs 5 lakh. This is under the priority sector lending, RBI said it in its annual policy statement released on Thursday.
RBI said that its expert committee would formulate a strategy for increasing investment in agriculture and submit its report next month.
The central bank is also planning to conduct a survey with the help of an outside agency to make an assessment of customer satisfaction on credit delivery in rural areas by banks. There is a realisation that there are increasing business opportunities in financing agriculture; banks are, therefore, urged to continue their efforts to step up credit to agriculture, it said.