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Utilities
In a move aimed at bolstering economic growth and enhancing financial inclusion, the Reserve Bank of India (RBI) has unveiled revised guidelines for Priority Sector Lending (PSL), effective from April 1, 2025. These amendments are part of a comprehensive strategy to increase credit access to critical sectors such as agriculture, micro, small, and medium enterprises (MSMEs), renewable energy, and affordable housing[1][2].
The revised guidelines introduce several key changes designed to better target priority sectors and improve the efficiency of lending practices:
Enhanced Loan Limits: One of the most significant updates includes higher loan limits for various categories, including housing loans and education loans. For housing, this change aims to facilitate more affordable housing projects, particularly in smaller cities. Education loan limits have been increased from Rs 20 lakh to Rs 25 lakh per individual[3][5].
Renewable Energy Expansion: The RBI has broadened the criteria for classifying loans under renewable energy, encouraging investments in clean energy projects like solar power and biomass. The loan limit for renewable energy projects has been raised from Rs 30 crore to Rs 35 crore per borrower, while individual household loans remain capped at Rs 10 lakh[2][4].
Urban Cooperative Banks (UCBs) Targets: The PSL target for UCBs has been revised to 60% of their Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off-Balance Sheet Exposures (CEOBSE), whichever is higher, down from 75%. This adjustment aims to strengthen cooperative banks' role in priority sectors without overburdening them[2][3].
Expansion of Weaker Sections: The list of eligible borrowers under the 'Weaker Sections' category has been expanded, removing the cap on loans to individual women beneficiaries and including transgenders. This move is expected to enhance financial inclusion and support economically disadvantaged groups[3].
Priority Sector Lending is a tool used by the RBI to ensure that banks allocate a significant portion of their credit to sectors that are crucial for inclusive economic growth but face credit shortages. The revised guidelines aim to address these shortages by increasing loan limits and expanding eligible categories[3].
Despite these positive changes, some challenges remain, particularly for banks that struggle to meet their PSL targets. Financial institutions failing to meet these targets are required to contribute to the Rural Infrastructure Development Fund (RIDF), ensuring that funds continue to reach priority sectors[3].
The revised PSL guidelines mark a significant step towards achieving more equitable economic growth by enhancing credit access to critical sectors. As the Indian economy continues to evolve, these measures will play a crucial role in supporting small businesses, boosting renewable energy investments, and fostering greater financial inclusion across the country.
