Abstract
The development and pattern of agricultural credit from cooperative banks, regional rural banks, commercial banks, and the total agency-wise credit flows to the agricultural sector in India represent an economy's contribution and stability. This study aims to assess the development and pattern of agricultural loans in India following the implementation of the new agricultural policy in 2000. Secondary data was acquired from the Ensure Portal, NABARD-Government of India, and NABARD Data Bank (different volumes) to meet the objectives. According to the agency-specific credit flow to the agriculture sector for the Indian economy from 1999–2000 to the 2019–2020 periods, cooperative banks' credit changed from Rs. 18260 to Rs. 157367, regional rural banks' credit from Rs. 3172 to Rs. 165326, commercial banks' credit from Rs. 24733 to Rs. 1070036, and the total credit to the agricultural sector changed from Rs. 46268 to Rs. 1392729 during the periods. Simple growth rates of cooperative banks' credit flows to the agricultural sector in India were 38.14%, 63.62 percent for regional rural banks, and 55.38 percent for commercial banks in the same period. In India, commercial banks' credit has grown positively over this time without seeing any negative growth. Following the adoption of the new agricultural policy, India's total agency-wise credit flow to the agriculture sector grew at a rate of 44.06 percent in 2004-05, 44.03 percent in 2005-06, and 27.36 percent in 2009-10, respectively.
Keywords: Agriculture, Banks, Credit, Economy.
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