Institutional credit is one important input for progressive agriculture. We expect efficient role of land to generate formal credit for the small farmers in the post tenancy reform period in India as secured land holding is ensured by such land reform policy. We have used NSSO 70th round unit level data on survey of agricultural households and quantile regression as a method to support the paper empirically. Volume of institutional credit is our dependent variable which is explained by land holding as well as different household level characteristics like caste, gender, religion and education. We found formal schooling, land and caste as significant factors to control the volume of formal credit but at different extent for different quantile ranges of the formal credit in India. Up to fiftieth quantile of institutional credit, land is more helpful to those who borrow more. But one unit of land is rather less helpful in generating higher volumes of credit in the quantile ranges above the median level. We conclude redistribution of land is essential to increase financial inclusion in India.