RBI allowed the banks to deduct the equivalent amount of incremental credit disbursed by them as retail loans to automobiles, residential housing, and loans to micro, small and medium enterprises (MSMEs), over and above the outstanding level of credit to these segments as at the end of the fortnight ended January 31, 2020 from their net demand and time liabilities (NDTL) for maintenance of the cash reserve ratio (CRR).
As announced in the Monetary Policy Statement of December 5, 2018, the Reserve Bank of India (RBI) launched on 31st January 2019, the Ombudsman Scheme for Digital Transactions (OSDT) vide Notification dated January 31, 2019 for redressal of complaints against System Participants as defined in the said Scheme. Follow the link for the Scheme: The Ombudsman Scheme for Digital Transactions, 2019…
Priority Sector Lending – Targets and Classification – (FAQ’s As on April 18, 2018) 1. What are the different categories under priority sector? Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises(iii) Export Credit(iv) Education(v) Housing(vi) Social Infrastructure(vii) Renewable Energy(viii) Others 2. What are the Targets and Sub-targets for banks under…