Goa banks crossed 15% credit mandate to minorities under primary sector lending

Financial institutions in Goa have crossed the national mandate of providing at least 15 per cent of credit under the priority sector lending to minority communities by giving them 28 per cent of the advances.

"The Prime Minister's new 15-point programme for the welfare of minorities envisages increasing credit flow to the communities. Banks have to ensure the level of lending to minority communities at 15 per cent of priority sector," read the Economic Survey tabled in the Assembly on Monday.

It stated that the population of minority communities in Goa according to the 2011 Census is 5.14 lakh, which is 35.32 per cent of the total population of 14.58 lakh.

 

"The advances to minority communities have increased by Rs 338.31 crore during the quarter ending March, 2016 over the levels as on March, 2015," it said.

The percentage of advances to minority communities was 28.16 per cent as on March 31, 2016.