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RBI extends the priority sector classification for banks loans to NBFCs

RBI in the move to help boosting the credit lending industry it has been decided to prioritise the targeted segment loans for Banks to NBFCs engaged in specific segments like MSMEs Agriculture and Housing finance should be get priority RBI said in a statement.

The Central Bank (RBI) said in a statement Bank Credit to registered NBFCs engaged in financing more towards agriculture, MSMEs and housing sector should be treated as a priority sector lending and should be get credit as per prescribed limits Reserve bank of India said in a statement.

Source Economic Times

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An MBA in HR and Marketing from AIMS Institute (Bangalore University), He heads digital business he has a rich experience that he has garnered from his previous organisations Including leading Banks, NBFCs & Genpact India. He is a serial entrepreneur and the founder of Heavy Group of Companies.

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