The Hindu : Banks told to enhance SC/ST lending

Online edition of India's National Newspaper
Sunday, May 05, 2002

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Banks told to enhance SC/ST lending

By Our Special Correspondent

NEW DELHI MAY 4. F inancial institutions should substantially enhance lending to Scheduled Castes and Scheduled Tribes in a concerted manner to further uplift these communities to enable them to join the national mainstream as equal partners in the country's economic growth and prosperity.

A strong recommendation in this regard was made today by the National Commission for Scheduled Castes and Scheduled Tribes (NCSCST) on the basis of consensus that emerged during the broad-based consultation which it had with the heads of financial institutions from all over the country. The consultation was in the form for a workshop hosted by the commission on `Role of Financial Institutions for Economic Development of Scheduled Castes and Scheduled Tribes'.

Briefing mediapersons at the end of the workshop, the Chairman of NCSCST, Bizoy Sonkar Shastri, and the commission member, Veena Nayyar, said the banks had as a first step been asked to meet the target of a 10 per cent lending to weaker sections in accordance with the guidelines of the Reserve Bank.

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