RBI revises PSL norms for regional rural banks

Moneycontrol BureauThe Reserve Bank of India today revised priority sector lending guidelines for regional rural banks.As per the new norms released, rural banks will have to advance 18 percent of total outstanding towards agricultural activities. A target of 7.5 percent of total outstanding will be diverted towards micro enterprises and another 15 percent for weaker sections. The new norms will be implemented from January 1, 2016 and will be monitored on a quarterly and annual basis.