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Priority Sector Lending by banks in India constitutes the lending to
[2013]
- a)Agriculture
- b)Micro and small enterprises
- c)Weaker sections
- d)All of the above
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Priority Sector Lending by banks in India constitutes the lending to[2...
Priority Sector Lending in India
Priority Sector Lending by banks in India includes lending to various sectors that are deemed crucial for the overall development of the economy. The key sectors that fall under Priority Sector Lending are:
Agriculture
- One of the primary sectors under Priority Sector Lending is agriculture. This includes providing financial support to farmers for crop cultivation, purchase of agricultural equipment, and other farming-related activities.
Micro and Small Enterprises
- Another important sector that banks focus on for Priority Sector Lending is micro and small enterprises. These enterprises play a significant role in generating employment opportunities and contributing to economic growth.
Weaker Sections
- Priority Sector Lending also encompasses lending to weaker sections of society, such as low-income households, scheduled castes, scheduled tribes, and other marginalized groups. This ensures that financial support reaches those who need it the most.
All of the Above
- Therefore, the correct answer to the question is "All of the above" as Priority Sector Lending by banks in India includes lending to agriculture, micro and small enterprises, as well as weaker sections of society. By focusing on these priority sectors, banks contribute to inclusive growth and sustainable development in the country.
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Priority Sector Lending by banks in India constitutes the lending to[2...
Priority sector lending constitutes the lending to agriculture, micro and small enterprises, micro credit, education, housing and weaker sections.
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