RBI Booster dose for small farmers and start-ups, The Reserve Bank of India has taken the steps to accelerate the worsening economy.
The Reserve Bank (RBI) has taken major steps to boost the economy. The Banking Regulator has released revised guidelines for priority sector lending to allow for new sectors. That means lending to primary sectors. In these guidelines, the emphasis is on new sectors and easy lending to farmers. Special emphasis has been placed on these sectors, which may play an important role in improving the economic situation.
According to the new guidelines, loans ranging from Rs. 50 crore to bank start-ups will range from loans to priority sectors. Farmers will also be given credit for installing grid-connected solar pumps.
If farmers take out loans to set up a compressed bio gas plant, it will come at the feet of bank’s preferred class of loans. Loans up to Rs. 5 crore to farmer’s producers and farmer’s producers are subject to priority sector lending. Corp loans, machinery loans, spraying, harvesting and grading for activities such as credit worth Rs. 2 crore would be considered in this category. also read this: when corona vaccine available?
The debt of Rs. 15 crore has been increased to Rs. 30 crore for renewable energy. Anyone who receives loans from banks for development of health care related infrastructure will be given a loan of up to Rs. 10 crore instead of Rs. 5 crores.
In which districts banks have been allocating preferential credit, so far, those districts are given a higher priority.
The revision was carried out after an extensive review of the priority sector lending (PSL) guidelines, the bank said. With the revised PSL guidelines, it will be easier to provide a loan facility in places where there is a debt. According to the new guidelines, renewable energy and health infrastructure will be promoted not only for the small, middle and vulnerable classes but also for easy access to credit.