Oracle IAS, the best coaching institute for RBI grade B/NABARD/SEBI in Dehradun (Uttarakhand), brings to you views on important issues.
1. What are the different categories under priority sector?
Priority Sector includes the following categories:
(i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others
2. What are the Targets and Sub-targets for banks under priority sector?
The targets and sub-targets for banks under priority sector are as follows:
| Categories | Domestic scheduled commercial banks (excluding Regional Rural Banks and Small Finance Banks) and Foreign banks with 20 branches and above | Foreign banks with less than 20 branches |
| Total Priority Sector |
40 per cent of Adjusted Net Bank Credit or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher. |
40 per cent of Adjusted Net Bank Credit or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher, to be achieved in a phased manner by 2020. |
| Agriculture # | 18 per cent of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher.
Within the 18 percent target for agriculture, a target of 8 percent of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher is prescribed for Small and Marginal Farmers. |
Not applicable |
| Micro Enterprises | 7.5 percent of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher. | Not applicable |
| Advances to Weaker Sections | 10 percent of ANBC or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher | Not applicable |
| # Domestic banks have been directed to ensure that their overall direct lending to non-corporate farmers does not fall below the system-wide average of the last three years achievement. | ||
3.What is included under Weaker Sections under priority sector?
Priority sector loans to the following borrowers are eligible to be considered under Weaker Sections category:-
| No. | Category |
| 1. | Small and Marginal Farmers |
| 2. | Artisans, village and cottage industries where individual credit limits do not exceed ₹ 0.1 million |
| 3. | Beneficiaries under Government Sponsored Schemes such as National Rural Livelihoods Mission (NRLM), National Urban Livelihood Mission (NULM) and Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS) |
| 4. | Scheduled Castes and Scheduled Tribes |
| 5. | Beneficiaries of Differential Rate of Interest (DRI) scheme |
| 6. | Self Help Groups |
| 7. | Distressed farmers indebted to non-institutional lenders |
| 8. | Distressed persons other than farmers, with loan amount not exceeding ₹ 0.1 million per borrower to prepay their debt to non-institutional lenders |
| 9. | Individual women beneficiaries up to ₹ 0.1 million per borrower |
| 10. | Persons with disabilities |
| 11. | Overdraft limit to PMJDY account holder upto ₹ 10,000/- with age limit of 18-65 years. |
| 12. | Minority communities as may be notified by Government of India from time to time |
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