What changed
Government finalised SGSY credit targets for 2011-12, totalling ₹6,02,000 lakh across states/UTs. RBI directs banks to allocate state targets among themselves via SLBCs and update them in the PCRPCD online system. Banks must now submit both hardcopy and online progress reports simultaneously.
What it means for you
Banks need to integrate these targets into their corporate planning and branch-level goals. The dual reporting requirement (hardcopy + online) increases compliance burden but improves monitoring. SLBCs play a key role in equitable distribution based on branch presence and resources.
What you must do
- Allocate state-wise SGSY credit targets among your bank's branches via SLBC, using parameters like rural branch count and resources.
- Update state-wise/bank-wise financial targets for 2011-12 in the PCRPCD online system after receiving central office confirmation.
- Submit monthly/quarterly/half-yearly progress reports in hardcopy and online via PCRPCD until further instructions.
- Issue internal instructions to controlling offices and branches, copying RBI.
- Monitor achievement regularly through Lead Banks and SLBC/UTLBC reviews.
Who it affects
All Indian Scheduled Commercial Banks (excluding RRBs), SLBC Convenor banks, Lead Banks, Bank controlling offices and branches handling SGSY
What is the total credit target under SGSY for 2011-12?
The total credit mobilisation target is ₹6,02,000 lakh (₹6,020 crore) for all states and union territories combined.
How should banks allocate the state-wise targets?
SLBC Convenor banks should allocate targets among banks in their state based on parameters like resources and number of rural/semi-urban branches, ensuring each bank can set a corporate target.
What reporting is required for SGSY progress?
Banks must submit monthly, quarterly, and half-yearly reports both in hardcopy and online via the PCRPCD system, as per the Master Circular dated July 1, 2010.