New Delhi
The Union Minister for Home and Cooperation, Shri Amit Shah, has welcomed the important steps announced by RBI to increase credit flow through Cooperative Banks. Shri Amit Shah said that in a span of less than one year, Prime Minister Narendra Modi has taken many historic decisions for the cooperative sector, which were needed for a long time. On behalf of the Ministry of Cooperation and crores of people associated with the cooperative sector, I express my gratitude to Prime Minister Shri Narendra Modi for the decisions that have given new impetus to the development of this sector.
Many old demands and problems of the cooperative sector have been resolved since the formation of the new Ministry of Cooperation under the guidance of Union Cooperation Minister Shri Amit Shah. These decisions will fulfill the long standing demands of Co-operative Banks.
Shri Amit Shah said that there is immense potential for development and empowerment of farmers, agriculture and rural areas of the country in the cooperative sector, that is why under the leadership of Prime Minister Shri Narendra Modi, the Union government is empowering the cooperative sector with the mantra of ‘Sahakar Se Samriddhi’ and has been taking many unprecedented decisions. He said I am extremely happy to inform that the Reserve Bank of India has announced three very important policy decisions for the cooperative sector-
Firstly, the individual housing loan limit for Urban Co-operative Banks has been doubled. With this decision, the individual housing loan limit for Tier 1 Urban Cooperative Banks (UCBs) has now been increased from ₹ 30 lakh to ₹ 60 lakh, for Tier 2 UCB from ₹ 70 lakh to ₹ 1.40 crore and for Rural Cooperative Banks (RCBs). The limit has been increased from 20 lakhs and 30 lakhs to 50 lakhs and 75 lakhs respectively.
