Credit Facilities to Minority Communities
The Reserve Bank of India aims to ensure that minority communities receive a fair and equitable portion of credit within the overall target of the priority sector.
Definition of Minority Communities: The circular defines minority communities and outlines the creation of a special cell and designation of an exclusive officer to oversee credit facilities to these communities.
Advances under DRI Scheme: The circular provides guidelines for advances under the Differential Rate of Interest (DRI) scheme.
Monitoring and Training: The circular emphasizes the importance of monitoring and training to ensure effective implementation of credit facilities to minority communities.
Publicity: Banks are encouraged to publicize the availability of credit facilities to minority communities.
National Minorities Development and Finance Corporation (NMDFC): The circular highlights the role of NMDFC in promoting economic development of minority communities.
Prime Minister’s 15 Point Programme: The circular outlines the Prime Minister’s 15 Point Programme for the Welfare of Minorities, which aims to promote the welfare of minority communities.
Annexure IV: The circular includes Annexure IV, which provides a list of circulars consolidated in the Master Circular.
Chat with the Master Circular:
Download: Master Circular – Credit Facilities to Minority Communities