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NOTE:
Reserve Bank of India (RBI) have advised Scheduled Commercial Banks (including Regional Rural Banks) to dispenser with the requirement of ‘no dues’ certificate for small loans upto ₹ 50,000/- to small and marginal farmers, share-croppers etc and instead obtain self-declaration from the borrowers.
The RBI has not received any complaints against any bank for non-compliance of the said directions in the recent past.
This information was given by the Minister of State of Finance, Shri Jayant Sinha in written reply to a question in Lok Sabha.