Priority Sector Lending (PSL) to Minorities Crossed 15 Percent Mark in 2012-2013
Priority Sector Lending (PSL) to Minorities increased considerably from 10.60 percent of total PSL in 2007-2008 to 15.01 percent in 2012-2013.
Priority Sector Lending (PSL) to Minorities increased considerably from 10.60 percent of total PSL in 2007-2008 to 15.01 percent in 2012-2013. Priority Sector Lending (PSL) to minorities belongs to one of the schemes which are covered under the Prime Minister’s New 15 Point Programme for Welfare of Minorities.
An increase was observed because of lending of 171960.71crore Rupees as on September 2012 to the minorities. Self-employment initiatives were created and sustained because of bank credit. The increase was observed because of sustained efforts of government of India.
In order to increase credit flow to the minorities, various steps were undertaken by the Government. These included:
•Reserve Bank of India issued directions on Priority Sector Lending in order to improve credit facilities to the minorities.
•From 2007-2008 to 2011-2012, 5954 branches of bank were opened in those areas where there was substantial minority population.
•Regular monitoring of Public Sector Banks was done for checking disposal of loan applications for the minorities.
•14244 awareness campaigns were organised by Public Sector Banks in 15466 towns and blocks which covered minority population.
Priority Sector Lending (PSL) to Minorities in the absolute terms increased from 58662.67 crore Rupees in 2007-2008 to 171960.71crore Rupees as of September 2012.
Prime Minister’s New 15 Point Programme for Welfare of Minorities
The President on 25 February 2005 announced that Government of India would recast the 15 Point Programme for the Welfare of Minorities for including certain programme specific interventions.
The objectives of this programme were as follows:
•Enhancing opportunities for education.
•Ensuring an equitable share for minorities in economic activities and employment, through existing and new schemes, enhanced credit support for self-employment, and recruitment to State and Central Government jobs.
•Improving the conditions of living of minorities by ensuring an appropriate share for them in infrastructure development schemes.
•Prevention and control of communal disharmony and violence.