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RBI Releases Revised Priority Sector Lending Guidelines : September 2020

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RBI-Releases-Revised-Priority-Sector-Lending-GuidelinesOn September 4, 2020, Reserve Bank of India (RBI) reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities amid COVID-19 impact. In this regard, new categories are included under priority sector for financing viz. start-ups (up to Rs 50 crore); loans to farmers for installation of solar power plants for solarisation of grid connected agriculture pumps and loans for setting up Compressed Bio Gas (CBG) plants.

Other Key features of revised PSL guidelines:

-Higher weightage has been assigned to incremental priority sector credit in ‘identified districts’ where priority sector credit flow is comparatively low.

-The targets prescribed for “small and marginal farmers” and “weaker sections” are being increased in a phased manner.

-Higher credit limit has been specified for Farmers Producers Organisations (FPOs)/Farmers Producers Companies (FPCs) undertaking farming with assured marketing of their produce at a pre-determined price.

-Loan limits for renewable energy have been doubled.

-For improvement of health infrastructure, credit limit for health infrastructure (including those under ‘Ayushman Bharat’) has also been doubled.

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About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).