...........When asked, a senior banker at a leading bank said, “Agriculture is an inconvenient necessity. Not only are bad loans in the sector high, but the amounts offered are very low. Our risk is not adjusted well. Not to mention the ever-present risk of waivers.” But banks have to meet the Reserve Bank of India (RBI) rules on priority-sector lending. The RBI mandates banks to give at least 18 per cent of their total loans to agriculture. Failure to do so invites the RBI’s displeasure........
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