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.
Key aspects:
The circular emphasizes the importance of credit flow to SCs and STs, with banks playing a crucial role in providing credit facilities. SC/ST development corporations also have a significant role in promoting economic development among these communities.
Centrally Sponsored Schemes:
The circular highlights various centrally sponsored schemes, including the National Rural Livelihoods Mission, National Urban Livelihoods Mission, Differential Rate of Interest Scheme, and Scheme for Rehabilitation of Manual Scavengers, which provide relaxations and reservations for SC/ST beneficiaries.
Monitoring and Review:
The circular outlines the monitoring and review process to ensure effective implementation of credit facilities to SCs and STs.
Reporting Requirements:
Banks are required to submit a statement showing advances granted to SCs and STs as on the last reporting Friday of March and September, with details of the number of accounts and balance outstanding.
Chat with the Master Circular:
Download: Master Circular – Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)