Lending commercial loans under pretex of Agricultural Loans

champalal (Querist) 14 March 2011 This query is : Open
Dear Sir

I am a resident of Maharashtra, India. I would like to know is it legal for Private Commercial Banks to lend commercial loans to borrowers as an Agricultural Loan even though the borrower does not have any agricultural activity mentioned in its business profile.

I am confused by the fact that the banks may be lending commercial loans as agriculture loans to complete their share of priority sector lending.

Awaiting your reply.

C B Jain

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