Bank loans to differently abled persons will be treated as weaker section loans within the priority sector ambit, Reserve Bank of India said Friday (13 March 2014).
This provision is effective from today.
“It has been decided that priority sector loans to persons with disabilities will be eligible for classification under weaker sections category,”
RBI said in a note to commercial banks excluding regional rural banks.
RBI guidelines stipulate banks to lend 10% of adjusted net bank credit or credit equivalent amount of their off-balance sheet exposure, whichever is higher, to the weaker section.
This is a sub-target within the 40% priority sector norms for banks. Foreign banks with less than 20 branches are exempted from complying with this sub-target.
Lending to small and marginal farmers, artisans, village and cottage industries where individual credit limits do not exceed Rs 50,000, scheduled castes and scheduled tribes and self help groups are also considered as weaker section loans.
RBI Notification – http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9600&Mode=0
Download – Master Circular – Priority Sector Lending-Targets and Classification(pdf, 322KB)
Please contact
Shri M. P. Shivan Arul
Special Officer,
Tamil Nadu State Apex Cooperative Bank Limited,
No. 4 (Old No. 233)
Netaji Subash Chandra Bose Road,
Chennai – 600 001.
(Tamil Nadu)
Email:tnscbank@vsnl.com
Tel No.044-25302300, 25302323, 25302354,
Fax:25340508
URL:www.tnscbank.com
I am 40% Disability(Locomotor) & my Educational Qualification is M.A(Political Science).I Interest to take NHFDC Loan. So Sir Please help me.