Thursday, May 16, 2013

RBI to Permit Urban Co-operative Banks to Grant Unsecured Loans up to 25% of Assets

To promote lending to priority sectors, The Reserve Bank of India (RBI) has allowed Urban Co-operative Banks (UCBs) to grant unsecured loans up to 25% of their assets if certain conditions are met. The Reserve Bank of India (RBI) has said that in order to promote lending to priority sectors and to provide impetus to the objective of financial inclusion it has been decided that UCBs fulfilling conditions may, with the prior approval of the Reserve Bank, grant unsecured loans (with or without surety) up to 25% of their total assets.

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