OUR CORRESPONDENT
According to the Minister of State for Finance Namo Narain Meena, Public Sector Banks (PSBs), the total outstanding credit of different PSBs to Minority Communities, as on 31st March 2010 (Provisional) stood at Rs. 1,12,038 Crores.
He was replying to an Unstarred Question in Rajya Sabha on Tuesday.
He said that lending to Minority Communities has been included as part of lending to Weaker Sections in Priority Sector Lending (PSL) of all domestic Scheduled Commercial Banks.
Further, Consequent to Cabinet decision, the Public Sector Banks were advised in October, 2007 to step up their lending to Minority Communities to the extent of 15% of their PSL by the end of March 2010.
“As per report from Public Sector Banks (PSBs), the total outstanding credit of different PSBs to Minority Communities, as on 31st March 2010 (Provisional) stood at Rs. 1,12,038 Crores” the minister said
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This information was given by the Minister of State for Finance Namo Narain Meena in written reply to an Unstarred Question in Rajya Sabha Tuesday.
Muslims benefited from credit disbursement by NMDFC
The Government has said that the Muslim community has greatly benefited from the credit disbursement of the National Minorities Development and Finance Corporation (NMDFC). As per the utilization data of NMDFC, 74.24 per cent of the credit disbursed by NMDFC till March 31, 2009 has been given to members of the Muslim community.
This was stated by the Minister of Minority Affairs Salman Khurshid in written reply to a question in the Rajya Sabha on Monday. He also said that to further increase the effectiveness of credit disbursement, restructuring of NMDFC is currently under study.