Master Circular on Priority Sector Lending to SCs and STs
The Reserve Bank of India (RBI) has issued a master circular on priority sector lending to Scheduled Castes (SCs) and Scheduled Tribes (STs).
The circular outlines the planning process, role of banks, and role of SC/ST development corporations in extending credit facilities to SCs and STs.
It also highlights the rejection of applications, centrally sponsored schemes, and reservations for SC/ST beneficiaries under major schemes such as Swarna Jayanti Gram Swarozgar Yojana (SGSY), Swarna Jayanti Shahari Rozgar Yojana, Differential Rate of Interest Scheme, and Scheme for Liberation and Rehabilitation of Scavengers.
The circular emphasizes the importance of monitoring and review of credit facilities to SCs and STs, and outlines reporting requirements for banks.
Banks are required to submit a statement showing advances granted to SCs and STs as on the last reporting Friday of March and September, as per Annexure I.
The circular aims to ensure that banks provide adequate credit facilities to SCs and STs, and promote their economic empowerment.
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