Banks may not hit priority sector lending target for FY12

....Priority sector includes loans to agriculture and allied activities, small-scale industries, poultry and other core economic activities in rural areas, including loans to microfinance institutions. According to RBI mandate, domestic banks have to lend at least 40 per cent of their total loans to the priority sector. For foreign banks, the target is set at 32 per cent of net bank credit..........

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