| Notification Detail :
RBI/2012-13/138
RPCD.CO.Plan.BC 13/04.09.01/2012-13
July 20, 2012
The Chairman/ Managing Director/
Chief Executive Officer
[All scheduled commercial banks
(excluding Regional Rural Banks)]
Dear Sir,
PRIORITY SECTOR LENDING –TARGETS AND CLASSIFICATION
As proposed in Paragraph 94 of the Monetary Policy Statement 2011-12, the Reserve Bank of India in August 2011 set up a Committee to re-examine the existing classification and suggest revised guidelines with regard to Priority Sector lending classification and related issues (Chairman: Shri M V Nair). The Committee submitted its report in February 2012, which was placed in public domain for comments.
2. The recommendations of the Committee have been examined based on the interface with various stakeholders and in the light of the comments /suggestions received from Government of India, banks, financial institutions, Non-Banking Financial Companies, Associations of industries, public and Indian Banks’ Association; and it has been decided to revise the existing guidelines in supersession of guidelines mentioned in the master circular on priority sector lending dated July 1, 2012.
3. The revised guidelines will be operational with immediate effect. The priority sector loans sanctioned under the guidelines issued prior to the date of this circular will continue to be classified under priority sector till maturity / renewal.
Yours faithfully,
(A. K. Misra)
General Manager
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