What changed
The earlier cut-off date of May 31, 2006 for disbursement of loans for purchase of milch animals under PMRY for the 2005-2006 programme year has been extended to November 30, 2006. This is a partial modification of the previous circular dated March 24, 2006.
What it means for you
Banks now have an additional six months to process and disburse loans for milch animal purchases under PMRY, reducing pressure on branch staff to meet the earlier deadline. This extension helps ensure more beneficiaries can access the scheme without being rushed, but banks must update their internal systems and communicate the new timeline to all branches.
What you must do
- Issue instructions to all regional/controlling offices and branches about the extended cut-off date of November 30, 2006.
- Update internal tracking systems and loan processing workflows to reflect the new deadline.
- Communicate the change to field staff handling PMRY applications to avoid confusion with the old date.
- Acknowledge receipt of this circular to RBI as instructed.
Who it affects
All Indian Scheduled Commercial Banks (excluding RRBs), Branches handling PMRY loans for milch animals, Regional and controlling offices of these banks
What is the new cut-off date for PMRY milch animal disbursements?
The cut-off date has been extended from May 31, 2006 to November 30, 2006 for the Programme Year 2005-2006.
Does this extension apply to all PMRY cases?
No, it applies only to cases related to purchase of milch animals under PMRY for the 2005-2006 programme year.
Which banks are covered by this circular?
All Indian Scheduled Commercial Banks, excluding Regional Rural Banks (RRBs).