Credit growth to the farm sector fell to a low of 3.8 per cent during the fiscal ended March 2018 and improved marginally to 8.4 per cent, which is much lower than the overall non-food bank credit growth of 12.8 per cent as of December 2018.
The banks are: Allahabad Bank (Rs 1.5 crore), Andhra Bank (Rs 1 crore), Bank of Maharashtra (Rs 1.5 crore), Indian Overseas Bank (Rs 1.5 crore), HDFC Bank (Rs 20 lakh), IDBI Bank (Rs 20 lakh) and Kotak Mahindra Bank (Rs 20 lakh).
As per the existing guidelines, the proceeds of ECB denominated in either foreign currency or the rupee, are not permitted to be utilised for repayment or for on-lending for repayment of domestic rupee loans.
Ex-PepsiCo CEO Indra Nooyi is reportedly among the frontrunners for the post of World Bank CEO. US President Donald Trump is considering multiple candidates to nominate for the post and Nooyi's name is reportedly being considered.