In order to remove difficulties faced by the Urban Co-operative Banks (UCBs), the Reserve Bank of India (RBI) has increased the monetary ceiling of gold loans under Bullet Repayment Scheme from Rs 2 lakh to Rs 4 lakh for UCBs to meet prescribed Priority Sector Lending (PSL) target, Ministry of Cooperation said on Monday.
The move is part of various initiatives taken under the leadership of Prime Minister Narendra Modi and the guidance of the Union Home Minister Amit Shah and Minister of Cooperation to strengthen cooperatives and treat them at par with other forms of economic entities, both as beneficiaries and participants.
