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: Not specified in the circular.
Special Cell and Exclusive Officer: Banks are required to create a special cell and designate an exclusive officer to oversee credit facilities to minority communities.
Advances under DRI Scheme: The circular outlines the guidelines for advances under the Differential Rate of Interest (DRI) scheme.
Monitoring: Banks are required to monitor the credit flow to minority communities and submit regular reports to the RBI.
Training: Banks are encouraged to provide training to their staff to sensitize them about the needs of minority communities.
Publicity: Banks are required to publicize the credit facilities available to minority communities.
National Minorities Development and Finance Corporation (NMDFC): The circular outlines the role of NMDFC in providing credit facilities to minority communities.
Prime Minister’s 15 Point Programme: The circular outlines the guidelines for implementing the Prime Minister’s 15 Point Programme for the Welfare of Minorities.
Annexure IV: The circular includes Annexure IV, which provides details on credit flow to minority communities.
Consolidated Circulars: The circular consolidates various circulars related to credit facilities to minority communities, including the list of circulars, circular numbers, dates, and subjects.
Chat with the Master Circular:
Download: Master Circular- Credit Facilities to Minority Communities