FINANCE MINISTER NIRMALA Sitharaman on Thursday asked public sector banks (PSBs) to ensure an increase in rural, agriculture and sectoral credit to meet the Priority Sector Lending (PSL) norms and transparent recognition of non-performing assets (NPAs) as per the extant guidelines of the regulator.
In the review performance of PSBs here, Sitharaman noted that while the overall PSL have exceeded the mandated target, the PSL targets in the sub-categories should also be met, particularly the small and marginal farmers, and the micro-enterprises.
Under the PSL rules, a banking entity needs to lend 40% of the adjusted net bank credit to the so-called priority sector or economically weaker sections such as agriculture, micro-enterprises and other economically disadvantaged sections.
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