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Agriculture credit to the tune of ₹8,08,318 crore has been disbursed in the current fiscal till December 2016, Lok Sabha was informed on Friday.
Minister of State for Finance Santosh Gangwar said a total of ₹8,77,527 crore worth of agriculture credit was disbursed in 2015-16 and ₹8,45,328 crore in 2014-15.
The Centre, the Reserve Bank of India and the National Bank for Agriculture and Rural Development have taken a number of steps to provide hassle-free crop loan to farmers, including small and marginal farmers and landless labourers.
According to RBI directions, domestic scheduled commercial banks are required to lend 18 per cent of their adjusted net bank credit or credit equivalent to off-balance sheet exposure, whichever is higher, towards agriculture, he said.
Gangwar said the government fixes agriculture credit disbursement targets for the banking sector every year and banks have consistently surpassed these targets.
Banks have consistently surpassed the agriculture credit disbursement targets set by the government, says Minister of State for Finance Santosh Gangwar
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