2016 self liquidating loan asp id
As regards Collateral Security and / or third party guarantee for loans, guidelines issued to banks on priority sector lending will apply. Reservations for SC / ST Beneficiaries under Major Centrally Sponsored Schemes.
There are several major centrally sponsored schemes under which credit is provided by banks and subsidy is received through Government Agencies. (iii) Differential Rate of Interest Scheme Under the DRI Scheme, banks provide finance up to ₹15,000/- at a concessional rate of interest of 4 percent per annum to the weaker sections of the community for engaging in productive and gainful activities.
Banks should advise their branches to organize meetings more frequently exclusively for SC / ST beneficiaries to understand their credit needs and to incorporate the same in the credit plan.
2.3 Circulars issued by RBI / NABARD should be circulated among the staff for compliance.
1.2 The district credit plans formulated by the lead banks should clearly indicate the linkage of credit with employment and development schemes.
2.7 Rejection of loan applications in respect of SCs / STs should be done at the next higher level instead of at the branch level and reasons of rejection should be clearly indicated. Role of SC / ST Development Corporations The Government of India has advised all State Governments that the Scheduled Caste/ Tribes Development Corporations can consider bankable schemes / proposals for bank finance.
2.2 In order to encourage SC / ST borrowers to take advantage of credit facilities, greater awareness among them about various schemes formulated by banks will have to be created.
As a majority of the eligible borrowers would be illiterate persons, publicity through brochures, other literature, etc. The more desirable method would be for the field staff of banks to contact such borrowers and explain to them the salient features of the schemes as also the advantages that will accrue.
Non release of subsidy upfront amounts to under-financing and hampers asset creation / income generation.
2.5 The National Scheduled Tribes Finance & Development Corporation and National Scheduled Castes Finance & Development Corporation have been set up under the administrative control of Ministry of Tribal Affairs and Ministry of Social Justice & Empowerment, respectively.