New Delhi, Feb 12 (IBNS) Priority Sector Lending (PSL) to Minorities has shown steady increase from 10.60% of the total PSL in 2007-08 to 15.01% in 2012-13 (as on 30th September, 2012).
This has been achieved by lending Rs.1,71,960.71 crore (as on September 2012) to the minorities. Bank credit is very important for creation and sustenance of self-employment initiatives.
To enhance the credit flow to the minorities, the Government has taken many steps which include:
i) Reserve Bank of India issues instructions from time to time on Priority Sector Lending for improving credit facilities to minority communities;
ii) A total of 5,954 bank branches have been opened in areas with substantial minority population during the period from 2007-2008 to 2011-2012;
iii) Public Sector Banks regularly monitor disposal of loan applications for minorities; and
iv) Public Sector Banks have organized 14,244 awareness campaigns in 15,466 towns/blocks having substantial minority population covering 38,295 branches from 2008-09 to 2011-12.
In absolute terms PSL to Minorities has jumped from Rs.58,662.67 crore in 2007-08 to Rs.1,71,960.71 crore as in September 2012, thus increasing to almost three-fold during this period.
PSL to Minorities is one of the schemes covered under Prime Minister's New 15 Point Programme for Welfare of Minorities.