Trading volume of PSLCs up substantially: RBI
Kolkata, Aug 29 : The Priority Sector Lending Certificates (PSLCs) scheme is gaining popularity as the total trading volume of the platform stood at Rs 1,843.3 billion at the end of last financial year, up from Rs 498 billion in the previous year, the Reserve Bank of India (RBI) said on Wednesday.
The PSLCs scheme was introduced in April 2016 as a mechanism to incentivise banks which surpass their targets in lending to different categories under the priority sector.
"The PSLC platform saw active participation from all the eligible entities including Urban Cooperative Banks (UCBs) and Small Finance Banks (SFBs) during 2017-18. At end-March 2018, total trading volume of PSLCs was Rs 1,843.3 billion as against Rs 498 billion at end-March 2017," the central bank said in its latest Annual Report released on Wednesday.
In a manner similar to carbon credit trading, PSLCs allow market mechanism to drive the priority sector lending by leveraging the comparative strength of different banks.
Explaining the scheme, the apex bank said a bank with an expertise in lending to small and marginal farmers can exceed targets and derive benefits by selling the over-achieved credit target through PSLCs. Another bank that is better at lending to small enterprises can buy these certificates while selling PSLCs for micro-enterprise loans.
Among the four PSLC categories, the highest trading was observed in the case of PSLC general and PSLC small and marginal farmer with the transaction volumes being Rs 796.72 billion and Rs 696.22 billion, respectively, it said.
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CM Siddaramaiah says no decision taken on 4 per cent Muslim reservation in govt tenders
Mysuru (Karnataka), Nov 13: Karnataka Chief Minister Siddaramaiah on Wednesday said there was a demand for four per cent reservation for Muslims in government tenders, but no decision has been taken yet on it.
Prominent Muslim leaders, including Karnataka Minister for Municipal Administration and Hajj, Rahim Khan, Congress MLAs and MLCs wrote to the chief minister on August 24 demanding to consider giving four per cent reservation to socially and economically backward Muslims in government contracts. The chief minister wrote on the petition on August 31 that the file should be put up, sources said.
"There was a demand for four per cent reservation, but we have not taken any decision yet," Siddaramaiah told reporters here.
When asked about the BJP raking up this issue, he said, "The BJP wants to communalise everything. Their job is to create a rift between Hindus and Muslims. Did they ever wish peace in society?"
BJP state president B Y Vijayendra termed the purported move unhealthy.
"In a bid to woo the Muslim community, the @INCKarnataka government is going to give reservation in contracts as well, which will damage the health of a harmonious society," he said in a post on ‘X’.
He said it had become inevitable to protest against such stances of the Congress government.
Former Union Minister Rajeev Chandrasekhar alleged in his post on social media 'X' saying what seemed like "shameless appeasement politics" to be a "cover for Congress corruption machine".
ಮುಸ್ಲಿಂ ಸಮುದಾಯವನ್ನು ಓಲೈಸುವ ನಿಟ್ಟಿನಲ್ಲಿ ಸರಣೀ ರೂಪದಲ್ಲಿ ಹೆಜ್ಜೆಗಳನ್ನು ಇಡುತ್ತಿರುವ @INCKarnataka ಸರ್ಕಾರ ವಕ್ಫ್ ವಿವಾದದ ನಂತರ ಗುತ್ತಿಗೆಯಲ್ಲೂ ಮೀಸಲಾತಿ ನೀಡಲು ಹೊರಟಿರುವುದು ಸಾಮರಸ್ಯ ಸಮಾಜದ ಸ್ವಾಸ್ಥ್ಯ ಹಾಳುಮಾಡುವ ನಡೆಯಾಗಿದೆ.
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