Credit Facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)
The Reserve Bank of India (RBI) has issued a master circular outlining the credit facilities and guidelines for banks to provide financial assistance to Scheduled Castes (SCs) and Scheduled Tribes (STs).
The circular emphasizes the importance of a planning process to ensure that credit facilities reach the intended beneficiaries. Banks play a crucial role in this process, and SC/ST Development Corporations are also involved in implementing these facilities.
Key aspects of the circular include:
Reservations for SC/ST beneficiaries under major centrally sponsored schemes, with a focus on ensuring that these reservations are met.
Monitoring and review mechanisms to track the progress of credit facilities and identify areas for improvement.
Reporting requirements for banks to submit regular reports on their credit facilities to SC/ST beneficiaries.
The circular consolidates various circulars issued by the RBI on this topic, providing a comprehensive guide for banks and other stakeholders.
Chat with the Master Circular:
Download: Master Circular – Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)