The Full Form of ‘SLBC’ in Banking is ‘State-Level Bankers’ Committee’.
Full Form of SLBC
The full form of SLBC in banking is State-Level Bankers’ Committee. This committee was established by the Reserve Bank of India (RBI) to promote coordination and cooperation among the various banks and financial institutions operating in the state. The committee works with the objective of developing, promoting and coordinating policies for credit delivery to all sectors of the economy.
SLBCs are constituted as per RBI guidelines and they consist of regional Rural Banks (RRBs), Scheduled Commercial Banks (SCBs) and other institutions such as Small Industries Development Bank of India (SIDBI), National Housing Bank (NHB), Export-Import Bank of India (EXIMBANK) etc. These committees work closely with local authorities, public sector organizations, non-banking financial companies, cooperative banks, and microfinance institutions for effective management of banking services at a local level.
The primary responsibility of the committee is to ensure that credit flow from banks reaches all eligible sectors in a timely manner. The committee also looks after the implementation of government sponsored schemes like Mudra Yojana, Stand Up India Scheme etc. It monitors credit flows from scheduled commercial banks and other participating agencies at a state level regularly and coordinates activities between different sectors so that credit facilitations reach all areas without any interruption or delay.
Apart from this, SLBC also undertakes surveys to identify potential borrowers who may not be aware about the availability of credit facilities under various schemes like PMJDY, KCC etc., thereby helping them avail bank loans easily. It identifies gaps in terms of access to finance by conducting surveys across states and helps create awareness among potential borrowers about available sources of financing.
The SLBC facilitates close interaction between bankers and state governments by organizing periodic meetings on important issues related to banking operations at a state level such as rural infrastructure development fund (RIDF), agricultural credit flow, priority sector lending requirements etc. These meetings help discuss critical issues facing banking operations in the state on an ongoing basis so that appropriate solutions can be found quickly.
In addition to this, SLBC also helps coordinate inter-state transactions between public sector banks through its Intra State Clearing Cell (ISCC). This facility ensures smooth transfer between accounts located in different states without having to wait for long periods for clearance or making several visits to branches for verification purposes.
Overall, SLBC plays an important role in ensuring efficient functioning of banking operations within a state by facilitating coordination among various stakeholders involved in operational aspects such as loan disbursement, recovery process etc. It helps ensure that customers receive high quality services while adhering to compliance requirements prescribed by RBI from time to time.
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