Farmers borrowing more from banks and are creditworthy, too

Published:


Bad loans from agricultural lending have decreased by 2-4 percentage points across bank groups between FY20 and FY24. This is despite farmers increasingly borrowing from the formal sector.

ET Year-end Special Reads

Outstanding agricultural loans rose faster than corporate loans at an average rate of 15.2% after the Covid period compared to a contraction or a singledigit annual growth in corporate loans during the pandemic.

The number of farmers’ accounts opting for credit through institutional sources increased by 381 lakh from March 2020 to March 2024. A large number of urban labourers moved back to their rural homes post Covid, Covid, fostering growth in agricultural activities.

According to the finance ministry’s replies to questions raised in the Lok Sabha, decreasing nonperforming assets during this period indicates an improvement in farmers’ repaying capacity.

Growfast

  • Maximizing Developer Productivity: The Pomodoro Technique in Practice

    Web Development

    Maximizing Developer Productivity: The Pomodoro Technique in Practice

    By – Prince Patni, Software Developer (BI, Data Science)

  • Learn Power BI with Microsoft Fabric: Complete Course

    Data Analysis

    Learn Power BI with Microsoft Fabric: Complete Course

    By – Prince Patni, Software Developer (BI, Data Science)

  • Startup Fundraising: Essential Tactics for Securing Capital

    Entrepreneurship

    Startup Fundraising: Essential Tactics for Securing Capital

    By – Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience

  • Tabnine AI Masterclass: Optimize Your Coding Efficiency

    Artificial Intelligence(AI)

    Tabnine AI Masterclass: Optimize Your Coding Efficiency

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Value and Valuation Masterclass

    Finance

    Value and Valuation Masterclass

    By – CA Himanshu Jain, Ex McKinsey, Moody’s, and PwC, Co – founder, The WallStreet School

  • A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024

    Web Development

    A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Future of Marketing & Branding Masterclass

    Marketing

    Future of Marketing & Branding Masterclass

    By – Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant

  • Canva Magic Write: Ideas to Stunning Slides in No Time

    Design

    Canva Magic Write: Ideas to Stunning Slides in No Time

    By – Prince Patni, Software Developer (BI, Data Science)

  • Crafting a Powerful Startup Value Proposition

    Entrepreneurship

    Crafting a Powerful Startup Value Proposition

    By – Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience

  • Generative AI for Dynamic Java Web Applications with ChatGPT

    Artificial Intelligence(AI)

    Generative AI for Dynamic Java Web Applications with ChatGPT

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Intermediate Java Mastery: Method, Collections, and Beyond

    Web Development

    Intermediate Java Mastery: Method, Collections, and Beyond

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Java 21 Essentials for Beginners: Build Strong Programming Foundations

    Web Development

    Java 21 Essentials for Beginners: Build Strong Programming Foundations

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Basics of Generative AI: Unveiling Tomorrows Innovations

    Artificial Intelligence(AI)

    Basics of Generative AI: Unveiling Tomorrows Innovations

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • AI and Analytics based Business Strategy

    Artificial Intelligence(AI)

    AI and Analytics based Business Strategy

    By – Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI

  • Succession Planning Masterclass

    Strategy

    Succession Planning Masterclass

    By – Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.

  • Performance Marketing for eCommerce Brands

    Marketing

    Performance Marketing for eCommerce Brands

    By – Zafer Mukeri, Founder- Inara Marketers

  • SQL for Data Science along with Data Analytics and Data Visualization

    Data Science

    SQL for Data Science along with Data Analytics and Data Visualization

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • Advanced Java Mastery: Object-Oriented Programming Techniques

    Web Development

    Advanced Java Mastery: Object-Oriented Programming Techniques

    By – Metla Sudha Sekhar, IT Specialist and Developer

  • ESG and Business Sustainability Strategy

    Strategy

    ESG and Business Sustainability Strategy

    By – Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader

  • Advanced Excel Course - Financial Calculations & Excel Made Easy

    Office Productivity

    Advanced Excel Course – Financial Calculations & Excel Made Easy

    By – Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant

  • Marketing & Sales Strategies for Startups: From Concept to Conversion

    Entrepreneurship

    Marketing & Sales Strategies for Startups: From Concept to Conversion

    By – Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience

  • Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis

    Office Productivity

    Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis

    By – Metla Sudha Sekhar, IT Specialist and Developer

The various schemes/programmes of the Union Government, such as Kisan Credit Card, PM KISAN, and PMFBY, are designed to increase the welfare of farmers by increasing production, remunerative returns and income support to farmers.

Under the PM KISAN scheme, income support of Rs 6,000 per year in three equal instalments will be provided to all land-holding farmer families. The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance scheme integrating multiple stakeholders on a single platform.

Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.



Source link

Related articles

spot_img

Recent articles