What changed
The RBI has revised the reporting format for credit facilities to Scheduled Castes and Scheduled Tribes under priority sector lending. Banks are now required to submit data half-yearly using the updated Annexure I and Annexure IA. Additionally, under the Differential Rate of Interest (DRI) scheme, SC/ST beneficiaries can now avail housing loans up to Rs 20,000 per person, in addition to the existing individual loan limit of Rs 15,000.
What it means for you
This revision standardizes and enhances the granularity of SC/ST lending data, enabling better monitoring of priority sector compliance. The increased DRI housing loan limit provides banks a clear product to offer eligible SC/ST customers, potentially boosting housing finance under priority sector. Banks must update their internal reporting systems and loan product documentation to reflect these changes.
What you must do
- Update internal reporting templates to capture SC/ST advances data in the revised Annexure I and IA formats.
- Ensure half-yearly submission of SC/ST credit data as on the last reporting Friday of March and September.
- Train loan officers on the enhanced DRI housing loan limit of Rs 20,000 for SC/ST beneficiaries.
- Review existing DRI scheme loan products to incorporate the additional housing loan component.
- Acknowledge receipt of this circular to the RBI as instructed.
Who it affects
All Indian Scheduled Commercial Banks, Priority Sector Lending Departments, Credit Reporting and Compliance Teams, Retail and Microfinance Loan Officers handling SC/ST customers
What is the new reporting frequency for SC/ST credit data?
Banks must now submit the data on a half-yearly basis, as on the last reporting Friday of March and September, using the revised Annexure I and Annexure IA formats.
What are the key changes in the DRI scheme for SC/ST beneficiaries?
Under the DRI scheme, SC/ST beneficiaries meeting income criteria can now get a housing loan up to Rs 20,000 per person, in addition to the existing individual loan limit of Rs 15,000 for productive activities.
Which banks need to submit Annexure IA?
Annexure IA is applicable only for public sector banks, requiring details of loans disbursed to SHGs belonging to Scheduled Tribes under the NSTFDC Micro-Credit Scheme.