Loans for Minorities Under Prime Minister Monetisation Scheme

• The Prime Minister’s New 15 Point Programme envisages that bank credit is essential for creation and sustenance of self-employment initiatives amongst the minority communities.
•  Accordingly, it is stipulated that an earmarking of 15% of the priority sector lending is targeted for the minority communities. 
• 40% of Adjusted Net Bank Credit (ANBC) has been fixed for Priority Sector Lending (PSL) for the domestic banks operating in the country.
•  The priority sector, inter alia, includes agricultural loans, loans to small-scale industries & small business, loans to retail trade, professional and self-employed persons, education loans, housing loans and micro-credit. 
• As on 31.03.2015, the total outstanding under PSL for the minorities stands at Rs. 2,69,644 crore (15.84% of overall figures). 

Important terms used in this article

1. 15 Point Programme
2. Adjusted Net Bank Credit (ANBC)
3. Priority Sector Lending (PSL

Source: PIB