As per extant guidelines of Reserve Bank of India (RBI) on Priority Sector Lending (PSL), all Scheduled Commercial banks (SCBs) including Public and Private Sector Banks are required to earmark 10% of Adjusted Net bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposure, whichever is higher, for Weaker Sections, which inter-alia, include Scheduled Castes (SCs) and Scheduled Tribes (STs) and loans to individual women beneficiaries upto Rs. 50,000 per borrower.

Indian Banks’ Association (IBA) has advised all member banks to provide at least 0.50% concession in interest rates on education loans to girl students under its Model Educational Loan Scheme for pursuing higher education in India and abroad.

At present there is no proposal with the Government to set up national banks exclusively for SCs and STs.