Thursday, March 1, 2018

Priority Sector Lending

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Targets and Classification 

In case of foreign Banks with 20 branches & above, it has been decided that from FY 2018-19,
a.     8% of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher, is to be lent to the small and marginal farmers.
b.     7.50% of ANBC or CEOBE, whichever is higher, is to be lent to the Micro Enterprises.
It has also been decided to remove the currently applicable loan limits of 5 crore to Micro Ent ( Services) and 10 crore to Small and Medium Enterprises (Services), for classification under priority sector.
Henceforth, all bank loans to MSMEs, engaged in providing or rendering of services as per MSMED Act, 2006, shall qualify under priority sector without any credit cap.
Based on RBI notification dated 1st March 2018. For any further clarification, please visit www.rbi.org.in    ................. Poppy

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