New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    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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