RBI directs lending to farmers should not fall below average of last three years
Q. On 16th July’15 the Reserve Bank of India (RBI) directed banks to ensure that their overall direct lending to farmers should not fall below the average of last _____ years.- Published on 24 Jul 15
The direction has been given against the backdrop of government expressing concern over adverse impact of any reduction in direct credit, given the adverse weather conditions. To increase direct lending to agriculture, the RBI in April 2015 revised the target for direct lending to small and marginal farmers under priority sector norms to 7 percent for 2015-16 and to 8 percent for 2016-17.