What is the recent development in banking industry?
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Answer:
Reserve Bank of India set norms for Joint Priority Sector Lending. RBI has allowed joint lending to the priority sector. RBI told banks to share a maximum 80% credit risk when they originate priority sector loans jointly with non-banking finance companies (NBFCs).
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Explanation:
Reserve Bank of India set norms for Joint Priority Sector Lending. RBI has allowed joint lending to the priority sector. RBI told banks to share a maximum 80% credit risk when they originate priority sector loans jointly with non-banking finance companies
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