CURRENT AFFAIRS

Detailed explanation-1: -Priority sector lending include only those sectors, as part of the priority sector that impact large sections of the population, the weaker sections and the sectors which are employment-intensive such as agriculture, and Micro and Small enterprises.

Detailed explanation-2: -This role is assigned by the Reserve Bank of India to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro- and small enterprises, education, housing for the poor, and other low-income groups and weaker sections.

Detailed explanation-3: -The priority sector lending by commercial banks in India is to agriculture, small - scale industries and the weaker sector of the population. Targeted financing for the areas in an economy which are lagging behind the normal pace of development is called priority sector lending.