💨 Abstract

The Reserve Bank of India has issued updated guidelines on Priority Sector Lending, effective from April 1. The changes aim to broaden the coverage and increase loan limits across various sectors, including housing and renewable energy. The RBI also raised the overall PSL target for urban cooperative banks and expanded the list of eligible borrowers under the 'weaker sections' category. The revised framework is expected to improve the targeting of bank credit to priority sectors of the economy.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖