Saturday, May 15, 2010

EXPORT CREDIT FOR AGRICULTURE AND ALLIED ACTIVITIES

Some commercial banks have sought clarification in respect of classification of working capital limits
granted to units engaged in agricultural and allied activities and to food and agro-based processing units by way of export credit under priority sector. The issue has been examined and it is clarified that loans granted by commercial banks for agricultural and allied activities are eligible for classification under priority sector, irrespective of whether the borrowing entity is engaged in export or otherwise.

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