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Startups under Priority sector lending
August 12 , 2020
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- The Reserve Bank of India has assigned priority sector lending (PSL) status to India’s start-up sector.
- This will make more funds for lending to start-ups.
- It means those sectors which the Government of India and RBI consider as important for the development of the basic needs of the country and are to be given priority over other sectors.
- As per the RBI guidelines for PSL for scheduled commercial banks, 40% of the total net bank credit should go to a priority sector advances.
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