RBI revised guidelines: Startup loans to now come under priority sector lending

Money Control 
Date: Aug 07, 2020
PTI, 

The Reserve Bank of India (RBI) has tweaked priority sector lending (PSL) norms to include loans to startups. Borrowing limits for the renewable energy sectors-- solar power and compressed bio-gas plants-- are also being raised by the central bank.

In his speech following the Monetary Policy Committee (MPC) meet, RBI Governor Shaktikanta Das said: "With a view to aligning the guidelines with emerging national priorities and bring sharper focus on inclusive development, the Priority Sector Lending (PSL) guidelines have been reviewed."

The central bank has also decided to put in place an incentive framework for banks in order to address the regional disparities in the flow of priority sector credit. Under the revised PSL norms, the RBI has also increased the targets for lending to 'Small and Marginal Farmers' and 'Weaker Sections'.

"While higher weightage will be assigned for incremental priority sector credit in the identified districts having lower credit flow, a lower weightage would be assigned in identified districts where the credit flow is comparatively higher," the RBI said.


https://www.moneycontrol.com/news/business/economy/rbi-revised-guidelines-startup-loans-to-now-come-under-priority-sector-lending-5654191.html

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