English Release 1-August 2014
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Ministry of Finance07-December, 2012 18:27 IST
|Loan Melas for SCs/STs/OBCs and other Minorities |
|As per extant guidelines of Reserve Bank of India (RBI) on Priority Sector Lending (PSL), al Scheduled Commercial Banks (SCBs) are required to earmark 10% of Adjusted Net Bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposure, whichever is higher, for Weaker Sections, which inter-alia include Scheduled Castes (SCs) and Scheduled Tribes (STs) and loans to minority communities.|
Banks have reported that such loan melas are also orgnaised by them to facilitate their customers to apply for loans. Such melas are intended to generally cover all category of customers including SCs/STs/OBCs and minorities.
This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.
(Release ID :90213)