Credit Facilities to Minority Communities
The Reserve Bank of India (RBI) has issued a master circular to ensure fair and equitable credit facilities to minority communities.
The circular aims to monitor credit flow to minorities in 121 districts, up from 103 districts earlier, to achieve the overall target of the priority sector.
Key Components:
1. Creation of a special cell and designation of an exclusive officer to monitor credit flow to minorities.
2. Advances under the Differential Rate of Interest (DRI) Scheme.
3. Monitoring and training programs to ensure effective implementation.
4. Publicity campaigns to raise awareness about the credit facilities.
5. Collaboration with the National Minorities Development and Finance Corporation (NMDFC) and implementation of the Prime Minister’s 15 Point Programme for the Welfare of Minorities.
The circular also includes an annexure to report priority sector advances granted to minority communities.
Chat with the Master Circular:
Download: Master Circular – Credit Facilities to Minority Communities