RBI Extends Priority Sector Lending Target Deadline for Urban Cooperative Banks (UCBs)
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- By Chetan Kulasri
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- Last Updated on 12 June, 2023
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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.
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