 "Reserve Bank of India | File Photo")
The banking sector failed to meet the priority-sector lending (PSL) targets overall, revealed data released by the Reserve Bank of India (RBI). The banks also failed to meet targets of specific sectors such as agriculture and micro, small and medium enterprises (MSMEs).
While PSBs met their PSL target for agriculture of 18 per cent, private banks and foreign banks failed to meet the targets at 16.2 per cent and 16.7 per cent, respectively.
“Bank credit to agriculture decelerated during 2017-18, partly reflecting the pervasive risk aversion and debt waivers by various state governments, which may have dis-incentivised lending to the sector,” said
