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:
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(vi) Social Infrastructure
(vii) Renewable Energy
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.
|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:-
|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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