RBI releases Priority Sector Lending-Targets and Classification
This is in reference to the revised priority sector guidelines issued to banks vide FIDD.CO.Plan.BC.54/04.09.01/2014-15 circular dated April 23, 2015 by RBI. It was stipulated therein under Para (II) (i) that the sub-targets for lending to small and marginal farmers and micro enterprises shall be made applicable for foreign banks with 20 branches and above, post 2018 after a review in 2017.
Accordingly, after undertaking a review of the priority sector lending profile of the above banks and to create a level-playing field within banks, it has been decided by RBI that the sub-target of 8 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher, shall become applicable for the foreign banks with 20 branches and above, for lending to the small and marginal farmers from FY 2018-19. Further, the sub-target of 7.50 percent of ANBC or CEOBE, whichever is higher, for bank lending to the Micro Enterprises shall also become applicable for the foreign banks with 20 branches and above from FY 2018-19.
Additionally, in the light of feedback received from various stakeholders and in line with the increasing importance of services sector in our economy, it has been decided by RBI to remove the currently applicable loan limits of Rs 5 crore and Rs 10 crore per borrower to Micro/ Small and Medium Enterprises (Services) respectively, for classification under priority sector. Accordingly, all bank loans to MSMEs, engaged in providing or rendering of services as defined in terms of investment in equipment under MSMED Act, 2006, shall qualify under priority sector without any credit cap.
Terrified locals in the Southern Highlands, Western, Enga and Hela provinces have also had to deal with strong aftershocks, including two 6.0-magnitude tremors early Monday.
- INDIAN COAST GUARD RESCUES SEVERELY INJUREDSRILANKAN FISHERMAN FROM SRILANKAN FISHING BOATGEETHBABA IIIA request from Maritime Rescue Co-ordination Centre, Colombowas received on 27 Feb 18 at the Maritime Rescue CoordinationCentre, Mumbai for assistance of an injured fisherman onboardSrilankan fishing vessel which was fishing at 100 Nautical Mile west ofSuheli Par Island.The boat bearing registration number IMUL-A-0507-CHW hadleft Sri Lanka on 14 Feb 18 with 5 crew for carrying out fishing. One ofthe crew Shri Malwatta Pathirannehalage Sunil Shantha aged about47 years had suffered deep cut injury on his neck.Further, MRCC Colombo intimated that the patient is stable andfishing boat was heading towards Colombo , Further, evacuation ofthe patient is being planned by Sri Lankan Naval Ship on 28 Feb 18.On 01 Mar 18, at about 10 AM the Director General Operationsof Sri Lanka Navy intimated that condition of the injured fishermanwas not stable and the fishing boat was 98 Nautical Mile fromChenyakara light house.Indian Coast Guard Ship Samar which was on a separateoperational mission in the Lakshadweep area and was approximately174 Nautical Mile away from the fishing vessel was diverted to reachthe Sri Lankan fishing vessel at the earliest to render medical aid.Indian Coast Guard Ship Samar located the Sri Lankan fishingvessel at 9 PM on 01 Mar 18 and the medical team onboard CoastGuard ship administered necessary first aid to the injured fisherman.The injury was a 8 CM long and 1.5 CM deep cut at back of head.
- Considering the critically of the injured fisherman, he was takenonboard Coast Guard ship Samar and stitching/ scalp suturing of thewound under local anesthesia was undertaken by the Medical Officer.The patient is presently stable and is under observation.ICGS Samar alongwith the patient is being taken to Kochi forfurther treatment. The ship is likely to reach Kochi by AM 03 Mar 18.MRCC, Colombo has been informed to take further necessaryadministrative arrangement
The center-right bloc includes former Prime Minister Silvio Berlusconi’s Forza Italia party. The 81-year-old politician is calling for major tax cuts and tighter immigration controls.
The anti-establishment 5-Star Movement, led by Luigi Di Maio, is skeptical about the EU.