Current Scenario, Constraints of Crop Loan and Coverage of Agricultural Insurance: A Case Study of India's First RRB in Moradabad District, Uttar Pradesh

Agriculture is the backbone of Indian economy. The introduction of new agricultural technology has resulted in higher income and human labour employment per unit area. However, new technology is capital-intensive and requires heavy expenditure on inputs like fertilizers, HYV seeds, irrigation, plant protection chemicals as well as investments on power supply and machinery. The majority of Indian farmers have very little marketable surplus, hence, are unable to meet their financial requirements from their own funds. Thus, the new technology is largely responsible for contributing a big spurt in demand for production and investment credits. In other words, access to credit is the key element in modernization of agriculture.