By TCN News,
New Delhi: The Congress-led UPA Government today claimed to have provided over 14% of total Priority Sector Lending (PSL) to minorities. The government said that Rs. 1,43,396.70 crore have been provided to minorities up to March 2011, which is 14.16% of total PSL. The government, however, did not give community-wise breakup of the beneficiaries.
Giving this information in written reply to a question in the Rajya Sabha on 6th September, Vincent H. Pala, Minister of State for Minority Affairs, said that as provided in the Prime Minister’s New 15 Point Programme for the Welfare of Minorities, targets are earmarked for minorities, including Muslims under Priority Sector Lending (PSL) by the Department of Financial Services. Reserve Bank of India (RBI) revised its Master Circular on 5th July, 2007 on PSL for improving credit facilities to Minority communities.
The minister said the progress of priority sector lending is reported in financial terms and not in physical terms. He also informed the House that the Government is satisfied with the progress in this respect.