Definition
of Minority Communities
The following
communities are notified as minority communities by the Ministry of Welfare:
(a)
Sikhs
(b)
Muslims
(c)
Christians
(d)
Zoroastrians
(e)
Buddhists
(f)
Jains
Creation of
Special Cell and Designating an exclusive Officer
A Special Cell should be set up in each
bank and it should be headed a Deputy General Manager/Assistant General Manager
or any other similar rank who should function as a 'Nodal Officer'.
The Lead Bank in
the minority concentration districts should have an officer who shall exclusively
look after the credit flow to minority communities. It
shall be his
responsibility to publicise various
programmes of bank credit and also to prepare suitable schemes for their
benefit in collaboration with branch managers.
Government has
forwarded a list of 121 minority concentration districts, excluding those
States /UTs where minorities are in majority (J & K, Punjab, Meghalaya,
Mizoram, Nagaland and Lakshadweep) for the banks to monitor the credit flow to
minorities in these districts.
The
designated officer may be attached to the Lead Bank. He will arrange group
meetings for formulation of suitable schemes.
The
Convenor banks of the DCCs and the SLBCs should ensure that steps taken to
facilitate the flow of credit and the progress are reviewed regularly.
The
Convenor banks of DLRC/SLRM/SLBCs may invite Chairman/ Managing Directors of
State Minority Commissions/Boards or the State Minorities Financial
Corporations or their representatives to attend the meetings of District Level
Review Committee (DLRC), State Level Review Meeting (SLRM) and State Level
Bankers Committee (SLBC).
Names,
designation and office addresses of (i) the officer-in-charge of the Special
Cell at Head Office and (ii) officer appointed by Lead Banks, should be
furnished to the National Commission for Minorities A copy of
the relevant communication may also be furnished to Financial Inclusion and
Development Department of RBI.
The Lead Banks in the identified
districts may involve the State Minority Commission / Finance Corporation in
the extension work.
The Lead Banks
in the identified districts may collaborate with DDMs of NABARD/ NGOs/
Voluntary Organizations in reaching the poor through Self Help Groups (SHGs).
Advances under
DRI Scheme
Banks
may route loans under the DRI scheme through State Minority Finance/Development
Corporation on the same terms and conditions as are applicable to loans routed
through SC/ST Development Corporations, subject to the beneficiaries of the
Corporations meeting the eligibility criteria and other terms and conditions.
Banks may ensure proper maintenance of the register to evolve timely sanction
and disbursement of loan applications.
Monitoring
Advances
granted to a partnership firms, where the majority of the partners belong to specified
minority communities, may be treated as advances to minority communities. Advances
granted to a company cannot be classified as advances to minority communities.
The
Convenor banks of the DCC in the identified districts should furnish the data
on priority sector advances granted by banks to specified minority communities to
the concerned Regional Offices of RBl within one month from the close of the
relative quarter.
The
Lead Banks in the identified districts should furnish the relevant extracts of
the agenda notes and the minutes of the meetings of the DCCs and of the
respective SLBCs to the Union Ministry of Finance and to the Ministry of
Welfare on a quarterly basis for their use.
Training
Banks
should include suitable lecture sessions as part of all relevant training
programmes like induction courses, programmes on rural lending, financing of
priority sectors, poverty alleviation programmes, etc.
The Lead Banks should
organize Entrepreneur Development Programmes. Depending upon the major vocation
and type of activity undertaken by large sections of the people in the
districts, suitable programmes may be organized in co-operation with State
Governments, Industries Department, DIC, SIDBI, State Technical Consultancy
Organization, KVIC and other voluntary organizations. The duration, the course
content, the faculty support etc. should be decided by taking into account the
prevailing conditions, need and existing skills as well as aptitude of the
people.
The
Lead Banks may organize sensitization workshops for bank officials regarding
micro credit/ lending to SHGs with the help of DDMs of NABARD.
Publicity
There
should be good publicity about various anti-poverty programmes where there is
large concentration of minority communities.
The
Lead Banks may create awareness among minority communities about the credit
facilities available, through (i) print media (ii) TV channels - DD/ local
channels, (iii) participation / setting up of stalls in the Melas / fairs.
National
Minorities Development and Finance Corporation (NMDFC)
NMDFC
was established in September 1994 to promote economic and developmental
activities for the backward sections amongst the minorities. NMDFC works as an
apex body and channelises its funds to the beneficiaries through the State
Minority Finance Corporation of the respective State/Union Territory
Governments.
The NMDFC is
operating the Margin Money Scheme. Bank finance under the scheme will be upto
60 percent of the project cost. The remaining amount is shared by NMDFC, the
State channelising agency and the beneficiary in the proportion of 25%, 10%,
and 5%, respectively. Banks may implement the Margin Money scheme evolved by
NMDFC. The assets created out of the loan amount are to be charged to the
banks. Recoveries are to be appropriated first towards bank dues.
Prime Minister’s
15 Point Programme for the Welfare of Minorities
All scheduled
commercial banks are required to ensure that within the overall target for
priority sector lending and the sub-target of 10 percent for the weaker
sections, sufficient care is taken to ensure that minority communities also
receive an equitable portion of the credit.
Based on RBI
Circular dt 16/07/15. Please visit www.rbi.org.in for any
further clarification if required….. Poppy
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