1) The overall corpus of the new FIF will be Rs. 2000 crore.
2) Contribution to FIF would be from the “interest differential” in excess of 0.5% on RIDF and STCRC deposits on account of shortfall in priority sector lending (as notified by RBI from time to time) kept with NABARD by banks.
3) The Fund shall be in operation for another three years or till such period as may be decided by RBI and Government of India in consultation with other stake holders.
4) The objectives of the FIF shall be to support “developmental and promotional activities” including creating of FI infrastructure across the country, capacity building of stakeholders, creation of awareness to address demand side issues, enhanced investment in Green Information and Communication Technology (ICT) solution, research and transfer of technology, increased technological absorption capacity of financial service providers/users with a view to securing greater financial inclusion.
Note: The fund shall not be utilized for normal business/banking activities.
No comments:
Post a Comment