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      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?
      A 3% Correct Answer Incorrect Answer
      B 5% Correct Answer Incorrect Answer
      C 7% Correct Answer Incorrect Answer
      D 5.5% Correct Answer Incorrect Answer
      E 8% Correct Answer Incorrect Answer

      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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