Three Public Sector Banks have not been able to achieve the Priority Sector Lending target in 2010. This information was given by the Finance Minister Mr. Pranab Mukherjee while replying to a question in the Lok Sabha today. He said those banks who fail to achieve Priority Sector Lending target are asked to deposit shortfall amounts in the rural infrastructure development fund. This fund has been set up by the NABARD. The Priority Sector Lending is being extended in different sectors for development of rural infrastructure and business. Mr. Mukherjee said the aggregate allocation for Rural Infrastructure Development Fund has reached one lakh 34 thousand crore rupees. The Finance Minister said that 16 thousand crores have been earmarked for the current fiscal.
News On AIR | August 27, 2010 4:18 PM
Three Public Sector Banks fail to achieve Priority Sector Lending target in 2010