The RBI committee under the current Union Bank Chairman MV Nair has come out with its recommendations on lending to priority sector. It has reviewed the existing guidelines on lending to priority sector categories including agriculture, MSME and export.
In an interview to CNBC-TV18, BA Prabhakar, CMD of Andhra Bank, MV Nair and N Seshadri, ED of Bank of India, discuss pros and cons of the recommendations. Meanwhile, they also speak about debt-ridden Kingfisher Airlines. Below is the edited transcript of the interview on CNBC-TV18. Also watch the accompanying videos. Q: One of the problems, which bankers point out, is that besides keeping that 40% of loans to be given to the priority sector, you have said that there should be a sub-category of 9% to small and marginal farmers. You have also added that the number of accounts should increase by 15% every year. WouldnDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
