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RBI Extends Priority Sector Lending Target Deadline for Urban Cooperative Banks (UCBs)

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Rural Infrastructure Development Fund

Circular No. RBI/2023-24/42 DOR.CRE.REC.18/07.10.002/2023-24, Dated 08.06.2023

With a view to easing the implementation challenges faced by UCBs, the RBI has decided to extend the phase-in time for achieving targets by an additional period of two years. Further, UCBs would not be required to contribute to the Rural Infrastructure Development Fund (RIDF) or other eligible funds for a shortfall in PSL target/sub-targets during FY 2020-21 and FY 2021-22.

Click Here To Read The Full Circular

The post RBI Extends Priority Sector Lending Target Deadline for Urban Cooperative Banks (UCBs) appeared first on Taxmann Blog.

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