RBI relaxes eligibility criteria for DRI scheme
The Reserve Bank on Thursday eased the eligibility criteria for extending concessional loans for productive purposes.
By PTI |
MUMBAI: The Reserve Bank on Thursday eased the eligibility criteria for extending concessional loans for productive purposes.
As per the RBI notification, people with annual income of Rs 18,000 in rural areas and Rs 24,000 in urban areas can avail of such loans under the scheme called Differential Interest Rate.
Earlier, only those with annual income of Rs 6,400 in rural areas and Rs 7,200 in urban regions could get these loans.
The target for lending under the DRI scheme will continue to be one per cent of total advances by banks, the notification stated.
Finance Minister P Chidambaram had proposed to enhance these limits in Budget 2008-09.
As per the RBI notification, people with annual income of Rs 18,000 in rural areas and Rs 24,000 in urban areas can avail of such loans under the scheme called Differential Interest Rate.
Earlier, only those with annual income of Rs 6,400 in rural areas and Rs 7,200 in urban regions could get these loans.
The target for lending under the DRI scheme will continue to be one per cent of total advances by banks, the notification stated.
Finance Minister P Chidambaram had proposed to enhance these limits in Budget 2008-09.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
