PMRY Loan Disbursement Deadline Extended to August 31, 2005
No longer current — replaced by Master Circular on Prime Minister's Rozgar Yojana (PMRY) - RBI/2005 06/25
Source: Reserve Bank of India · RBI/2005-06/88 · issued 01 Aug 2005 · ~1 min read
Quick answerRBI extends the cut-off date for PMRY loan disbursements under 2004-05 sanctions from July 31 to August 31, 2005. Banks must complete all disbursements by this new date and ensure 2005-06 sanctions and disbursements are done by March 31, 2006.
The rule, in the simplest words
The government gave banks one more month, until August 31, 2005, to give out loans that were already approved under the 2004-05 PMRY program.
Banks must finish giving money to all approved 2004-05 cases by the new date, or the approvals will expire.
For the 2005-06 program year, banks must approve and give out all loans by March 31, 2006.
This rule applies to all scheduled commercial banks, but not to Regional Rural Banks (RRBs).
How it plays out — a real example
Rajesh, a branch manager at a scheduled commercial bank, has 15 PMRY loans sanctioned in 2004-05 still undisbursed. He now has until August 31, 2005, to release the funds, instead of the earlier July 31 deadline, and must also start processing 2005-06 applications to meet the March 2006 target.
What changed
The Ministry of A & RI, Govt. of India extended the cut-off date for lapsing of sanctions and completion of disbursement for PMRY loans sanctioned during 2004-05 by one month, from July 31, 2005, to August 31, 2005, as per the August 1, 2005 circular.
What it means for you
Banks get an extra month to disburse loans already sanctioned under the 2004-05 PMRY program, reducing the risk of sanctions lapsing. They must still meet the 2005-06 annual target by March 31, 2006, so timely action is critical.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Complete disbursement of all PMRY loans sanctioned during 2004-05 by August 31, 2005.
Ensure achievement of allocated targets for 2005-06 by sanctioning and disbursing loans by March 31, 2006.
Issue instructions to regional offices and branches to comply with the new deadline.
Acknowledge receipt of this circular to the RBI.
Who it affects
All Indian Scheduled Commercial Banks (excluding RRBs), Regional and controlling offices of banks, Bank branches implementing PMRY loans
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-07-28 04:08 IST
Superseded by — Master Circular on Prime Minister's Rozgar Yojana (PMRY) - RBI/2005 06/25
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2005-06/88 · issued 01 Aug 2005. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=2403&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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