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Loans Up To Rs. 50 Crore To Start-Ups Now Come Under Priority Sector Lending

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The apex banker made a revision in norms for priority sector lending as per which now loan of amount up to Rs. 50 crore for start-ups will be PSL exposure for banks. The modification has been made to push the growth prospects of start-ups as well as renewable energy space.

Loans Up To Rs. 50 Crore To Start-Ups Come Under Priority Sector Lending
 

For lending to renewable energy companies, the limit as per PSL has been increased to Rs. 30 lakhs. Under the segment, eligible entities that can get PSL lending tag are solar-based power generators, biomass-based power generators, wind mills, and micro-hydel plants Also loans for the purpose of for non-conventional energy based public utilities, like street lighting systems and remote village electrification will qualify for PSL lending. In case of individual household, the loan limit is set at Rs. 10 lakh.

Similarly health infrastructure will also get the benefit as the lendin for entities working under the centre's 'Ayushman Bharat' s will be able to avail double the earlier loan amount of Rs. 10 crore. Such loans will be available for building healthcare facilities in Tier II to Tier VI cities.

Higher credit limit is also set for extending credit to Farmers Producers Organisations (FPOs)/Farmers Producers Companies (FPCs) carried out farming activity with assured marketing of their produce at a pre-determined price.The targets prescribed for "small and marginal farmers" and "weaker sections" will be increased in a phased manner, said the central bank.

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