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Section: General News - Small farmers can now apply for micro-agri loans from banks without collateral and stringent documentary requirements after the Bangko Sentral ng Pilipinas (BSP) allowed banks to extend this service.
BSP, in a statement, said its policy-making Monetary Board (MB) recently approved the general rules and regulations that allow banks to extend micro-agri loans to small farmers.
With this approval, small farmers in the countryside can have potentially more access to bank credit, it said, citing that the complex application procedures deters farmers to easily take out loans.
The statement said the micro-agri loans will be classified and …