• Dr. Vidya.K
• Prof. Ravindranath N. Kadam

The dream of overall development of an economy will be achieved only if the required financial availability is made to those sectors, which are neglected and deprived of getting loan from financial institutions at the time of necessity. On December 14, 1967 then Deputy Prime Minister and Minister of Finance, Government of India Late Sri Morarji Desai made a statement in the Lok Sabha that, there have been continual complaints that some "priority sectors" like as agriculture, small scale industries and exports have not been receiving their due share of bank credit. Thus, the concept of priority sector lending was introduced for imposing social responsibility and control on banks by amendment bill 1967 and introduced on 23rdDecember 1967.The Reserve Bank of India has made it mandatory to commercial as well as co-operative banks to provide loan to specific sectors, which were not getting finance earlier but are most wanted in the economy. The Reserve Bank of India has declared some important sectors as 'Priority Sector'. The broad classification of priority sector for all scheduled commercial banks includes - i. Agriculture and Allied Activities, ii. Small Scale Industries, iii. Small Business or Service Enterprises, iv. Micro Credit, v. Education Loans, vi. Housing Loans, vii. Weaker Sections

Amendment, commercial, development, mandatory, priority sectors

"PRIORITY SECTOR LENDING BY BANKS IN INDIA- A RAY FOR SURVIVAL OF SMALL AND MOST WANTED", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 8, page no.662-664, August-2018, Available :http://www.jetir.org/papers/JETIRA006117.pdf

"PRIORITY SECTOR LENDING BY BANKS IN INDIA- A RAY FOR SURVIVAL OF SMALL AND MOST WANTED", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 8, page no. pp662-664, August-2018, Available at : http://www.jetir.org/papers/JETIRA006117.pdf