India’s central bank cuts small finance banks’ lending requirement to priority sectors
How did your country report this? Share your view in the comments.
Diverging Reports Breakdown
India’s central bank cuts small finance banks’ lending requirement to priority sectors
Small finance banks currently have to extend 75% of their loans to priority sectors. After a review, the Reserve Bank of India has effectively cut the requirement to 60%.
June 20 (Reuters) – India’s central bank on Friday reduced the mandated portion of lending that small finance banks have to extend to priority sectors such as agriculture and small businesses, lowering it by 15 percentage points.
Small finance banks currently have to extend 75% of their loans to priority sectors. After a review, the Reserve Bank of India has effectively cut the requirement to 60% of total lending.
Sign up here.
Reporting by Manvi Pant in Bengaluru; Editing by Vijay Kishore
Our Standards: The Thomson Reuters Trust Principles. , opens new tab
India’s central bank cuts small finance banks’ lending requirement to priority sectors
Small finance banks currently have to extend 75% of their loans to priority sectors. After a review, the Reserve Bank of India has effectively cut the requirement to 60%.
Small finance banks currently have to extend 75% of their loans to priority sectors. After a review, the Reserve Bank of India has effectively cut the requirement to 60% of total lending.
(Reporting by Manvi Pant in Bengaluru; Editing by Vijay Kishore)