(a) whether the Government has recently formulated a scheme to provide loan at easy
and concessional rates to the poor and weaker sections through banks;
(b) if so, the details thereof along with the names of the banks selected for this purpose;
(c) whether a similar scheme has been formulated for extremely backward minority communities;
(d) if so, the details thereof; and
(e) if not, the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) and (b): As per extant guidelines of Reserve Bank of India (RBI) on Priority Sector Lending (PSL), all domestic Scheduled Commercial Banks are required to earmark 10% of Adjusted Net Bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposure, whichever is higher, for Weaker Sections. RBl`s data on achievements of Weaker Sections target by Public Sector Banks as on last reporting Friday of March, 2012 (provisional) is Annexed.
(c) to (e): Public Sector Banks have been advised by the Government to step up their Minority Community Lending (MCL)
to 15% of their PSL.
In addition, RBI has advised all SCBs vide Master Circular dated 2nd July, 2012 to specially monitor the credit flow to minorities to ensure that they receive a fair and equitable share of credit within the overall target of priority sector.