124
2009-10. In the year 2009-10, apart from the above 2% subvention, an
additional subvention of 1% as an incentive to the farmers who repay their
short-term crop loans on schedule, thus reducing their interest rate to 6% per
annum. This 1% incentive for prompt payment of loans was raised to 2% in
2010-11 and again to 3% in 2011-12, thus finally reducing the effective rate of
interest for crop loans up to
`
3 lakh to 4% per annum. This interest subvention
scheme has been continued in 2012-13 and further extended to post-harvest
loans up to six months against negotiable warehouse receipts for small and
marginal farmers who have a Kisan Credit Card (KCC). RBI writes that “this is
Table 4.35: Bank Group-wise and Occupation-wise Weighted Average Lending Rates
Years
(End-
March)
State Bank
Bank Group
Nationalised
Banks
Regional
Rural Banks
Other Sch.
Scheduled
Com.Banks
Foreign
Banks
All Scheduled
Com.Banks
Agriculture
2001
14.21
14.19
16.00
15.84
13.74
14.42
2002
13.52
13.81
15.51
14.74
13.55
13.87
2003
13.12
13.20
14.75
14.26
12.66
13.33
2004
12.56
12.90
14.18
14.55
13.49
13.03
2005
12.00
12.23
13.28
13.88
15.80
12.45
2006
11.34
11.76
12.49
11.75
14.77
11.70
2007
11.50
11.64
11.71
12.01
13.50
11.72
2008
11.42
11.64
12.12
12.45
12.74
11.77
2009
11.00
10.82
12.30
11.21
11.10
10.99
2010
10.16
9.66
11.88
10.41
10.72
9.99
2011
11.05
11.09
11.87
11.09
10.36
11.11
Industry
2001
13.99
14.58
16.40
15.34
14.24
14.47
2002
13.13
14.07
15.38
14.59
13.99
13.98
2003
12.60
13.73
14.51
14.17
14.74
13.68
2004
12.78
13.12
13.77
14.53
14.3
13.44
2005
12.61
12.81
13.00
14.03
15.46
13.21
2006
11.96
12.65
12.07
12.72
14.05
12.58
2007
12.10
12.43
11.70
12.37
12.77
12.36
2008
12.06
12.57
12.23
12.71
12.31
12.44
2009
11.17
11.10
12.47
12.33
12.18
11.34
2010
10.43
10.54
12.32
10.89
9.50
10.52
2011
11.75
11.81
12.25
11.59
9.96
11.68
Total
2001
13.60
14.05
15.41
15.28
14.48
14.14
2002
12.92
13.53
14.88
14.57
14.33
13.66
2003
12.44
13.20
14.21
14.05
14.68
13.31
2004
12.16
12.56
13.64
14.13
14.64
12.96
2005
11.91
12.16
12.82
13.28
14.95
12.57
2006
11.49
11.89
12.19
12.19
13.43
11.97
2007
11.64
11.89
11.70
11.91
13.03
11.92
2008
11.82
12.33
12.18
12.68
13.05
12.34
2009
11.05
11.09
12.29
12.48
13.14
11.47
2010
10.25
10.38
11.90
11.12
11.05
10.53
2011
11.31
11.49
11.86
11.54
10.93
11.44
Notes:
Data on outstanding credit relate to accounts, each with credit limit of over
`
2 lakh. Amount Outstanding
figures are used as weights for calculating average lending rates.
Source:
RBI, Statistical Tables related to Banks in India, 20011-12 and earlier issues.
