........The Reserve Bank of India (RBI) is expected to closely examine why banks are failing to meet priority sector lending targets and the limits set for agricultural advances and weaker sections of society. The end use of agricultural credit contracted under the interest subvention scheme will be under the regulator’s scrutiny, so that agricultural advances at special rates of interest are directed at agriculture and not diverted for other purposes. A senior RBI official told Financial Chronicle that the end use of all bank credit should be examined to find out if promoters are diverting money. “But in agriculture, it is more important as government gives a subvention......
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