Question
As per the RBI guidelines, Banks will be able to offer short-term crop loans up to one year at what percent of rate per annum?
Solution
The government has approved an interest rate subvention of 2 percent for crop loans to Rs 3 lakh during the current fiscal year ending March 2018, the RBI said in a notification to banks. As a result, banks will be able to offer short-term crop loans up to one year at 7 per cent per annum.
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