Summary The RBI has raised the collateral-free loan limit for farmers from ₹1.6 lakh to ₹2 lakh, effective January 1, 2025. This aims to ease access to credit for over 86% of small and marginal farmers, addressing rising input costs and boosting agricultural productivity. Key Details Loan Limit Increase : Collateral-free loans increased to ₹2 lakh. Target Beneficiaries : 86% of Indian farmers—small and marginal landholders. Ease of Access : Waiver of collateral and margin requirements simplifies loan approvals. Economic Relief : Helps manage inflationary input costs like seeds, fertilizers, and labor. Synergy with Policies : Complements the 4% interest scheme under the Modified Interest Subvention Scheme. Boost to Rural Economy : Improves credit access and enhances financial stability. Numerical Highlights New Loan Limit : ₹2 lakh (up from ₹1.6 lakh). Subsidized Loans : ₹3 lakh at 4% interest under the subvention scheme. Beneficiary Farmers : Over 86% (small and marginal). Opinion This...
What is AgriTech: Agritech, short for "agricultural technology," refers to the use of technology, innovations, and digital solutions in the agriculture sector to improve productivity, efficiency, and sustainability. The Future of Agriculture is on the cusp of a technological revolution, and Agritech is leading the way. With the global population projected to reach 9.7 billion by 2050, the demand for food is set to soar. To meet this challenge sustainably, the agricultural sector must embrace innovative solutions. Agritech, the fusion of agriculture and technology, promises to revolutionize farming practices, enhance productivity, and ensure food security for generations to come. In this blog, we explore the impact of Agritech on the future of agriculture. Agritech leverages cutting-edge technologies such as artificial intelligence, internet of things (IoT), big data analytics, robotics, drones, precision agriculture, biotechnology, and automation to address the challenges ...