The Priority Sector Lending (PSL) Guidelines have been reviewed by the Reserve Bank of India. The review was executed to align the PSL Guidelines with evolving national priorities. The new guidelines will make better credit penetration into credit deficient areas and increase the lending to small as well as marginal farmers and weaker sections. It will also enhance credit to renewable energy, and health infrastructure.
In the revised PSL Guidelines, the Reserve Bank of India has included some fresh categories eligible for finance under priority sector. These include loans to farmers for installation of solar power plants; loans for establishment of Compressed Bio Gas (CBG) plants; and bank finance to start-ups of up to Rs 50 crore.
Some key features of revised PSL guidelines are as follows:
Important takeaways for all competitive exams:
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