The Reserve Bank of India (RBI) has issued revised guidelines on Priority Sector Lending (PSL) to improve the targeting of bank credit to key economic sectors.
Key Changes in PSL Guidelines:
- Housing Sector Loans:
- Loans up to ₹50 lakh for cities with a population above 50 lakh.
- Loans up to ₹45 lakh for cities with 10 lakh to 50 lakh people.
- Loans up to ₹35 lakh for cities with less than 10 lakh residents.
- Renewable Energy Loans:
- Up to ₹35 crore for renewable energy-based power generators and public utilities.
- Up to ₹10 lakh per borrower for individual households.
- Clarification on Gold Loans:
- Loans against gold jewellery acquired from NBFCs will not qualify as PSL.
Sectors Covered Under PSL:
- Agriculture
- Micro, Small & Medium Enterprises (MSME)
- Export Credit
- Education
- Housing
- Social Infrastructure
- Renewable Energy
(Source: Moneycontrol)
