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TMI BlogGovernment Takes Several Policy Measures to Increase Availability of Institutional Credit to Farmers, Sets an Annual; Target of Rs.5,75,000 Crore for Credit to Agriculture Sector in 2012-13X X X X Extracts X X X X X X X X Extracts X X X X ..... Government Takes Several Policy Measures to Increase Availability of Institutional Credit to Farmers, Sets an Annual; Target of Rs.5,75,000 Crore for Credit to Agriculture Sector in 2012-13 - News and Press Release Dated:- 23-8-2012 - News - Press Information Bureau Government of India Ministry of Finance The Government has taken several policy measures from time to time to increase ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the availability of institutional credit to farmers. These inter-alia include the following: In terms of Reserve Bank s extant guidelines on lending to priority sector, a target of 40 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposures (OBE), whichever is higher, as on March 31 of the previous year, has been mandated for lending to the priority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sector by domestic scheduled commercial banks, both in the public and private sector. Within this, a sub-target of 18 per cent of ANBC or Credit Equivalent amount of OBE, whichever is higher, as on March 31 of the previous year, has been mandated for lending to agriculture sector. Under the revised guidelines issued on 20.07.2012, the norms are also applicable to foreign banks with 20 or more bra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nches. The Government has been setting an annual target for the flow of credit to the agriculture sector. The agriculture target for 2012-13 is fixed at Rs 5,75,000 crore against the target of Rs 4,75,000 crore in 2011-12. The Interest Subvention Scheme is being implemented by the Government of India since 2006-07 to make short-term crop loans upto Rs. 3 lakh for a period of one year avail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able to farmers at the interest rate of 7 percent per annum. The Government of India has since 2009-10 been providing additional interest subvention to prompt payee farmers. The additional subvention was 1% in 2009-10, 2% in 2010-11 and 3% in 2011-12. The Government has in the Budget speech of 2012-13 announced continuation of the scheme in 2012-13. RBI has also advised banks to waive margin/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecurity requirements for agricultural loans upto Rs 1,00,000. The Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS), 2008 was implemented by the Govt. This Scheme has de-clogged the lines of credit that were clogged due to the debt burden on the farmers and make the farmers eligible for fresh loans. Under the scheme Rs 52,275.55 crore has been released by the Govt. through RBI and NABAR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D to give benefit to 3.45 crore farmers. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. DSM/RS/Hb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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