Monetary limit for filing cases in DRT rose up to Rs.20 lakh

The notification  dated  September 6, 2018 of finance ministry, Government of India increased the monetary limit up to Rs.20 lakh for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions. It is reported that there are 38,376 cases pending in 39 debt recovery tribunals (DRTs) in the country, as…

Interest subvention scheme for short-term Crop loans 2018-19

RBI vide its communiqué RBI/2017-18/190 FIDD.CO.FSD.BC.No.21/05.04.001/2017-18 dated June 7, 2018 advised all the Public & Private Sector Scheduled Commercial Banks as an interim measure, the Interest Subvention Scheme will be implemented in 2018-19 till further instructions are received from the Government, on the terms and conditions approved for the Scheme for 2017-18. It is communicated …

What are the latest guidelines on Priority sector lending and targets?

Updated up to :June 6, 2018 Categories under priority sector under revised guidelines:  As per RBI circular RPCD.CO.Plan.BC10/04.09.01/2014-15 dated July 1, 2014, Medium Enterprises, Social Infrastructure and Renewable Energy will form part of priority sector, in addition to the earlier existing categories like Agriculture,Micro Small enterprises,Export credit,education,housing loan, and others (credit to weaker sections). The…