RBI shortens the frequency of reporting by lenders to Credit Information Companies(CIC)

The Reserve Bank of India in exercise of the powers conferred by sub-section (1) of section 11 of the Credit Information Companies (Regulation) Act, 2005 (CICRA, 2005), directed that Credit Information Companies (CICs) and Credit Institutions (CIs )shall keep the credit information collected/maintained by them updated regularly on a fortnightly basis (i.e., as on 15th…

Interest Subvention Scheme for Agri and allied activities through KCC during 2024-25

Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial year 2024-25 To provide short-term crop loans and short-term loans for allied activities including animal husbandry, dairy, fisheries, beekeeping, etc. up to an overall limit of ₹3 lakh to farmers through KCC at…

Updated list of Priority Sectors identified in India and PSL lending targets and sub-targets norms

Reserve Bank of India updated the Master Circular on priority sector lending on June 21, 2024, incorporating the following updated instructions/guidelines on priority sector lending(PSL)-target and classification. This is to address regional disparities in the flow of priority sector credit at the district level, it was decided to rank districts based on per capita credit…

RBI revises Priority Sector Lending (PSL) Guidelines, fresh categories included

Today (September 4, 2020) announced that PSL guidelines have been comprehensively reviewed to align it with emerging national priorities and bring a sharper focus on inclusive development, after having wide-ranging discussions with all stakeholders. “Revised PSL guidelines will enable better credit penetration to credit deficient areas; increase the lending to small and marginal farmers and…

Retail Banking: How it is different from wholesale banking?

The basic distinctions between retail banking and wholesale banking/Corporate banking are apparent in their target audiences, services offered, customer relationships, and risk profiles. Retail banking business is targeted at individuals, salaried professionals, micro, small, and medium enterprises, Self Help Groups (SHGs), and Non-Resident Indians (NRIs). Retail bankers offer a variety of deposit schemes to individuals…