Credit Facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)
The Reserve Bank of India’s Master Circular outlines the guidelines for credit facilities to SCs and STs, focusing on the planning process, role of banks, and SC/ST development corporations.
Flow of Credit: Banks play a crucial role in providing credit to SCs and STs, with SC/ST development corporations assisting in the process. Applications rejected by banks can be reconsidered by the corporations.
Centrally Sponsored Schemes: Various schemes, such as Deendayal Antyodaya Yojana, Differential Rate of Interest Scheme, and Scheme for Rehabilitation of Manual Scavenger, offer relaxations and reservations for SC/ST beneficiaries.
Monitoring and Review: Regular monitoring and review of credit facilities are essential to ensure effective implementation.
Reporting Requirements: Banks must submit reports on advances granted to SCs and STs as on the last reporting Friday of March and September, using the prescribed format (Annexure I).
The circular aims to increase credit flow to SCs and STs, promoting their economic empowerment and social upliftment.
Chat with the Master Circular:
Download: Master Circular – Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)