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.
Key Initiatives:
1. Creation of a Special Cell and designation of an exclusive officer to oversee credit facilities to minority communities.
2. Advances under the Differential Rate of Interest (DRI) Scheme to support minority communities.
3. Monitoring of credit flow to minority communities to ensure effective implementation.
4. Training programs to enhance the capacity of bank officials in addressing the credit needs of minority communities.
5. Publicity campaigns to raise awareness about the credit facilities available to minority communities.
6. Collaboration with the National Minorities Development and Finance Corporation (NMDFC) to support minority communities.
7. Implementation of the Prime Minister’s 15 Point Programme for the Welfare of Minorities to promote inclusive growth.
The Master Circular provides a comprehensive framework for banks to ensure that minority communities have access to credit facilities and opportunities for economic empowerment.
Chat with the Master Circular:
Download: Master Circular- Credit Facilities to Minority Communities