Bankers Opinion towards Priority Sector Advances By the Commercial Banks

Abstract

Agriculture occupies a dominant position in the Indian economy. In India, 70 percent of the working population is engaged in agriculture and allied activities, which contributing nearly 40 per cent to the total income of our country. In the earlier days, money lenders played a major role in rural areas in the lending process. People suffered a lot due to money lenders’ cruel practice of lending. The government has realised the importance of systematic banking in India. The central bank was constituted followed by nationalization of private sector banks after independence. Because of these efforts the nation started to grow in all segments. The rural population is not an exception to this. They are gifted with these banks to take care of their monetary needs and also escaped from higher interest rates of money lenders. This paper is purely based on the major research project sponsored by the UGC. It is the pride and privileges to the thank authorities of UGC to offer funds in time to complete the project.