The RBI asked banks to ensure district cooperative banks and regional rural banks get enough cash.
Mumbai: The Reserve Bank of India (RBI) on Tuesday relaxed rules on loans to farmers, asking the National Bank for Agriculture and Rural Development to disburse up to Rs 23,000 crore ($3.36 billion) to district cooperative banks for crop loans.
The recent demonetisation scheme has badly hit farmers, leaving them without cash just ahead of sowing winter crops.
The RBI also asked banks to ensure the district cooperative banks and regional rural banks, which provide loans to several farmers' cooperatives, get a sufficient amount of cash.
($1 = Rs 68.3665)
The recent demonetisation scheme has badly hit farmers, leaving them without cash just ahead of sowing winter crops.
The RBI also asked banks to ensure the district cooperative banks and regional rural banks, which provide loans to several farmers' cooperatives, get a sufficient amount of cash.
($1 = Rs 68.3665)
© Thomson Reuters 2016
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