2023, Vol. 8, Special Issue 6

This study provides a concise overview of the symbiotic relationship between the banking sector and Indian agriculture, focusing on policies, loans, and their impact. The Indian agricultural landscape has undergone transformative changes over the years, with the banking sector emerging as a crucial partner in fostering growth and sustainability. This research navigates through the intricate web of policies governing this relationship, shedding light on the historical evolution of agricultural initiatives in India. From the Green Revolution to contemporary measures, policies have played a pivotal role in shaping the trajectory of Indian agriculture. Within this framework, the banking sector has assumed a central role, implementing a myriad of initiatives to support the unique needs of the agricultural community. Both public and private banks have introduced specialized products and embraced technological advancements to streamline processes and enhance financial inclusion. This section delves into the specifics of these initiatives, emphasizing their role in driving agricultural growth. A cornerstone of this partnership is the provision of agricultural loans, ranging from crop loans to term loans and financing for allied activities. The analysis includes an in-depth evaluation of schemes such as Pradhan Mantri Fasal Bima Yojana (PMFBY) and Kisan Credit Card (KCC), highlighting their impact on safeguarding farmers against unforeseen adversities. The tangible impact of these policies and loans on farmers and the rural economy is a central theme of this research. However, challenges persist, ranging from accessibility issues to repayment burdens. The abstract concludes by addressing these challenges and offering insights into future prospects, emphasizing the need for continuous refinement of policies to ensure sustainable growth in the intersection of the banking sector and Indian agriculture.