Banks seek priority sector tag for retail, infrastructure

The definition of Priority Sector has extended over time to include neglected sectors of economy. Discuss what more needs to be done to increase efficiency of Priority Sector lending.  (150 Words)

Approach:

• Introduce by giving a definition and history of Priority Sector lending
• Briefly highlight the rules of PSL and sectors that come under PSL
• List the benefits of PSL
• Enumerate the areas where PSL can be extended and other initiatives that can be taken to improve the scheme
• Conclusion