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Economy
Mahesh

10/06/22 08:16 AM IST

RBI to increase credit flow through Cooperative Banks

In News 
  • The Union Minister for Home and Cooperation, Shri Amit Shah, has welcomed the important steps announced by RBI to increase credit flow through Cooperative Banks. 
Measures taken by RBI 
  • The individual housing loan limit for Urban Co-operative Banks has been doubled.
  • With this decision, the individual housing loan limit for Tier 1 Urban Cooperative Banks (UCBs) has now been increased from ₹ 30 lakh to ₹ 60 lakh, for Tier 2 UCB from ₹ 70 lakh to ₹ 1.40 crore and for Rural Cooperative Banks (RCBs).
  • The limit has been increased from 20 lakhs and 30 lakhs to 50 lakhs and 75 lakhs respectively.
  • Rural Co-operative Banks (RCBs) have been allowed to lend to the Commercial Real Estate Residential Housing sector, which will increase the scope of our Rural Co-operative Banks and also give impetus to the resolution of providing affordable houses to the people.
  • Now Urban Co-operative banks have been allowed to provide door step banking facility to their customers like commercial banks.
Sorce- PIB 

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