CHANDIGARH: In a major reform aimed at removing long-standing administrative bottlenecks in agricultural lending, the Haryana government is set to launch a transparent and technology-driven rural credit system that will free farmers from the routine of running between banks and revenue offices for loan-related documentation, said state Financial Commissioner (Revenue) Sumita Misra on Friday.
The government will soon sign a memorandum of understanding with the Reserve Bank of India to develop one of India’s most advanced integrated farm credit systems.
Under this framework, sanction of agricultural loans will be directly linked with digitised land records, ensuring seamless coordination between financial institutions and the revenue administration.