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Thursday, 17 August 2017

RBI Makes Aadhaar Linkage Mandatory for Farmers


To ensure hassle-free benefits to farmers under Interest Subvention Scheme, the Reserve Bank of India has advised banks to make Aadhaar linkage mandatory for availing short-term crop loans up to Rs 3 lakh in 2017-18.

In order to provide short-term crop loans to farmers at an interest rate of 7 percent during the year 2017-18, the RBI said it has been decided to offer interest subvention of 2 percent to lending institutions, public sector banks, private sector commercial banks on use of their own resources.

Important Takeaways from Above News-
  • RBI Headquarters in Mumbai.
  • The 24th Governor of RBI is Dr. Urjit Patel.

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