What is the threshold loan amount available to individuals for educational purposes under Priority S...........

Economic and social issues(Phase-I/II) Rural Banking and financial institutions

What is the threshold loan amount available to individuals for educational purposes under Priority Sector Lending (PSL) under recent revised RBI Guidelines?

This questions was previously asked in

Nabard grade-A, Previous year Memory Based Paper (2023)

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Rs. 15 lakhs

Rs. 20 lakhs

Rs. 23 lakhs

Rs. 25 lakhs

Rs. 30 lakhs

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Explanation:

- Under the recent revised RBI Guidelines (as of 2024), the threshold loan amount available to individuals for educational purposes under Priority Sector Lending (PSL) has been increased.

- Earlier, the limit was Rs. 10 lakhs for studies in India and Rs. 20 lakhs for studies abroad.

- However, as per the latest guidelines, banks can give loans up to Rs. 20 lakhs for education, whether in India or abroad, under PSL.

- The other options (Rs. 15 lakhs, Rs. 23 lakhs, Rs. 25 lakhs, Rs. 30 lakhs) do not match the current RBI threshold for educational loans under PSL.

- This means, the correct answer is:

Option 2: Rs. 20 lakhs