RBI waives collateral security and margin requirements for agricultural loans including loans for allied activities upto ₹2 lakh per borrower.
Presently, the limit for collateral free on agricultural loans is ₹ 1.6 lakh. Keeping in view the overall inflation and rise in agriculture input cost over the years, RBI has decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of ₹ 1.6 lakh to ₹ 2 lakh per borrower.
Accordingly, banks with effect from 1st January 2025 have been advised to waive collateral security and margin requirements for agricultural loans including loans for allied activities upto ₹2 lakh per borrower.
- First-time experience in filing appeal a reasonable & bona fide cause for delay
- Non-disclosure of destination place in documents no ground for seizure u/s 129 of GST Act.
- Charging of exorbitant interest in commercial transactions not against morality or justice
- Assessees not required to prove “source of the source‟ of funds Prior to Finance Act 2022
- During pendency before settlement commission, assessee have right to contest assessment
