The latest rise in corporate credit amplified the demand for priority sector lending certificates (PSLC)

The jump in lending to corporate borrowers has driven up demand for priority-sector lending certificates (PSLC), forcing banks to pay a higher premium to meet regulatory lending targets. The total Priority Sector lending of a domestic commercial bank should be 40 per cent (target for foreign banks 32%) of Adjusted Net Bank Credit or Credit…

Eligibility criteria for Kisan Credit Card Scheme for farmers engaged in fisheries/ aquaculture, amended

RBI on Wednesday (18.05.2022) notified all the banks that the RBI circular dated February 04, 2019, related to Kisan Credit Card (KCC) for  ‘Working Capital for Animal Husbandry and Fisheries’  stand modified. Modification of the scheme was necessitated by the Central Bank in India (RBI), as they received information that the licensing/authorisation related requirements pertaining…

RBI permits banks to extend on-lending facility on an ongoing basis for delivering credit to the specified priority sectors

 “On-lending” means loans sanctioned by banks to eligible intermediaries for onward lending for the creation of priority sector assets. As per the latest RBI, circular banks are permitted to extend the above facility on an ongoing basis. RBI on Friday (May 13, 2022) announced that “To ensure the continuation of the synergies that have been…

What is the Prime Minister’s New 15-Point Programme for the Welfare of Minorities?

The “Prime Minister’s New 15-Point Programme for the Welfare of Minorities” is the revised guidelines of the earlier programme on Credit facilities to the minority community. The objective of the new programme is to ensure that the benefits of various government schemes for the underprivileged reach the disadvantaged sections of the minority communities which are…