Question
Download Solution PDFWhich of the following categories comes under priority sector?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is All of the above
- Priority Sector refers to those sectors of the economy which may not get timely and adequate credit.
- Priority Sector Lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to a few specific sectors.
- The sectors may be agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low-income groups and weaker sections.
- This is essentially meant for all-round development of the economy as opposed to focusing only on the financial sector.
- As per the RBI circular released in 2016, there are eight broad categories of the Priority Sector Lending.
- They are: (1) Agriculture (2) Micro, Small and Medium Enterprises (3) Export Credit (4) Education (5) Housing (6) Social Infrastructure (7) Renewable Energy (8) Others.
- The others category includes personal loans to weaker section, loans to distressed persons, loans to state sponsored organisations for SC/ST.
Last updated on Jul 3, 2025
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