RBI Notification on Priority Sector Lending (PSL) – Classification of Exports under priority Sector

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RBI/2019-20/66 FIDD.CO.Plan.BC.12/04.09.01/2019-20
September 20, 2019

The Chairman/Managing Director & CEOs All Scheduled Commercial Banks including SFBs (Excluding Regional Rural Banks)

Madam/Dear Sir,

Priority Sector Lending (PSL) – Classification of Exports under priority Sector

In order to boost credit to export sector, it has been decided to effect following changes in para 8 of the “Master Direction on Priority Sector Lending-targets and Classification” dated July 7, 2016 (updated as on December 4, 2018) pertaining to export credit.

(i) Enhance the sanctioned limit, for classification of export credit under PSL, from ₹ 250 million per borrower to ₹ 400 million per borrower.
(ii) Remove the existing criteria of ‘units having turnover of up to ₹ 1 billion’

2. The existing guidelines for domestic scheduled commercial banks to classify
   ‘Incremental export credit over corresponding date of the preceding year, upto 2 per cent of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher’ under PSL will continue to be applicable subject to the criteria mentioned at (i) above.

3. There is no change in the present instructions in respect of foreign banks.

Yours faithfully,

(Gautam Prasad Borah) Chief General Manager-in-Charge