{"id":3531,"date":"2019-05-14T08:07:30","date_gmt":"2019-05-14T02:37:30","guid":{"rendered":"http:\/\/yourcareerheights.com\/?p=3531"},"modified":"2019-05-14T08:12:32","modified_gmt":"2019-05-14T02:42:32","slug":"priority-sector-lending-targets-and-classification","status":"publish","type":"post","link":"https:\/\/yourcareerheights.com\/?p=3531","title":{"rendered":"Priority Sector Lending \u2013 Targets and Classification"},"content":{"rendered":"<div id=\"pl-3531\"  class=\"panel-layout\" ><div id=\"pg-3531-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3531-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3531-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div class=\"panel-widget-style panel-widget-style-for-3531-0-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p>With reference to First Bi-Monthly Monetary Policy Statement on Development and Regulatory Policies RBI has prescribed\u00a0eligibility criteria of housing loans for classification under priority sector for RRB's &amp; Small Finance Banks as under:<\/p>\n<p>In terms of the Master Direction for RRBs, loans to individuals up to \u20b9 20 lakh for purchase\/construction of a dwelling unit per family provided the overall cost of the dwelling unit does not exceed \u20b9 25 lakh are eligible to be classified under priority sector. In terms of the Compendium for SFBs, loans to individuals up to \u20b9 28 lakh in metropolitan centres (with population of ten lakh and above) and \u20b9 20 lakh in other centres, are eligible to be classified under priority sector, provided that the cost of dwelling unit does not exceed \u20b9 35 lakh and \u20b9 25 lakh, respectively.<\/p>\n<p>In order to bring the RRBs and SFBs at a level playing field with other Scheduled Commercial Banks, it has now been decided to enhance the housing loan limits for eligibility under priority sector lending. Accordingly, in respect of RRBs and SFBs, housing loans to individuals up to \u20b9 35 lakh in metropolitan centres (with population of ten lakh and above) and \u20b9 25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centres and at other centres does not exceed \u20b9 45 lakh and \u20b9 30 lakh, respectively will be eligible for classification under Priority Sector Lending.<\/p>\n<p>Furthermore, the existing family income limit of \u20b9 2 lakh per annum, prescribed under Para 9.4 of the above Master Direction for RRBs\/Para 5.4 of the Compendium for SFBs, eligible for loans to housing projects exclusively for the purpose of construction of houses for Economically Weaker Sections (EWS) and Low Income Groups (LIG), is revised to \u20b9 3 lakh per annum for EWS and \u20b9 6 lakh per annum for LIG, in alignment with the income criteria specified under the Pradhan Mantri Awas Yojana.<\/p>\n<p>Accordingly, the RRBs\/SFBs are allowed to reckon their outstanding portfolio of housing loans meeting the revised criteria for classification under priority sector lending from the date of this circular.<\/p>\n<p>All other terms and conditions specified under the Master Direction\/Compendium shall remain unchanged.<\/p>\n<p>Source: rbi.org.in<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>With reference to First Bi-Monthly Monetary Policy Statement on Development and Regulatory Policies RBI has prescribed\u00a0eligibility criteria of housing loans for classification under priority sector for RRB&#8217;s &amp; Small Finance Banks as under: In terms of the Master Direction for RRBs, loans to individuals up to \u20b9 20 lakh for purchase\/construction of a dwelling unit&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[38,456,45],"tags":[3,458,43,40,41,79],"class_list":["post-3531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-priority-sector-advances-banking","category-rbi","tag-banking","tag-priority-sector-advances","tag-psb","tag-rbi","tag-rrb","tag-small-finance-banks"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/yourcareerheights.com\/wp-content\/uploads\/2019\/02\/RBI-Shaktikanta-Das.jpg?fit=615%2C262&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/3531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3531"}],"version-history":[{"count":2,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/3531\/revisions"}],"predecessor-version":[{"id":3533,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/posts\/3531\/revisions\/3533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/media\/3397"}],"wp:attachment":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}