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VOLUME 6; ISSUE 1: 2016

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VOLUME 6; ISSUE 1: 2016

SKIT RESEARCH JOURNAL

Priority Sector Lending Prescriptions by Reserve Bank of India

(A Case Study of IDBI Bank Ltd.)
1

Arvind Kumar Yadav , Vikas Shrotriya

1
Vivekananda Global University, Jaipur,
2

Department of Management Studies

Swami Keshvanand Institute of Technology Management & Gramothan, Jaipur

Email- [email protected], [email protected]

Received 20 October 2015, received in revised form 16 January 2016, accepted 23 January 2016
Abstract: Priority sector guidelines originated in seventies and
prescribed by RBI to follow the financial institutions. The
originally in year 1967-68 of RBI mentioned priority sector
detailed guidelines in its Credit Policy. Recently in year 2014-15,
these have been revised. Samall scale / MSME, export and
agriculture are the sector where commercial banks have been
directed to increase their share of advances. Weaker section and
needy persons should be beneficiary of the priority sector lending,
it remains the always focus area from RBI. The achievement of the
sustainable promotion of MSME, agriculture sector and
backward area development etc is the major focus areas of
priority sector landing.[1] The banks are behind the target of
priority sector lending. With this scenario, this study is an attempt
to go through the strategic achievement of priority sector lending
by IDBI Bank ltd.
Period of study: - FY 2011 to 2013.
Key Words: Priority Sector landing, Reserve Bank of India, IDBI
Bank Ltd

productivity to measured, economic growth with social justice

(Narasimham, 1999).[4] Public sector banks are extending their
funds to weaker sector and priority sector without insisting to
much paper formalities and securities. (GoI, 1991). Financial
sector reforms were recommended by the Narasimham
Committee (1991). 40 % of net bank credit should be financed
to priority sector it was recommend by committee. Thereafter, it
was emphasized that credit proposals should be timely disposed
off (Majumdar, 2004). In this respect, Dr. Y. V. Reddy (February
3, 2001), Deputy Governor of RBI, stated that financing in rural
area is still not up to the mark , it can be enhanced. RBI has sset
up a internal working group under the chairmanship of C.S.
Murthy to examine the need of PSL prescription
continuance.[5] PSL guideline were revised in 2007 on the
basis of the recommendations of the working group and 40 per
cent of net bank credit (NBC) for domestic banks (PSBs and
private banks) and 32 per cent for foreign banks target was fixed
for priority sector lending.[6] 18 per cent for domestic banks in
agriculture and 12 per cent for foreign banks in SSSI target were
fixed. (RBI, 2009)5.
Priority sector target are still not achieved by the PSBs. Demand
constraints are still faced by the small farmers and small
entrepreneurs. Lack of viable products are the main problem
for not reaching the credit to needy sectors etc (Shete, 2002).
Money lenders are having nexus in rural area. So we can say
that still there is wide gap in demand and supply of financial
need the present paper is mainly focused to find out the
constraints faced by priority sector borrowers.[7]
This paper proposes for measuring effectiveness of priority
sector target achievement.
Latest prescription of priority sector lending by reserve
bank of India:
PSB and Commercial banks:Priority Sector Advances: - It is at 40 % of ANBC (Adjusted
Net Bank Credit) or equivalent Amount of Off-Balance Sheet
Exposure credit, which is higher. 32% Adjusted Net Bank
Credit (ANBC) or equivalent amount of Off-Balance Sheet
Exposure, which is higher.

1. INTRODUCTION
The rationale behind directed credit is to bridge the discrepancy
between private and social benefits, when high investment risk
of the projects and problems of information asymmetry
discourage lending to small and medium sized entrepreneurs.
Govt. policies are somewhere hurdle for increase of financing
in priority sector as well as in micro small and medium
enterprises. Constrained of small subsidies are derived
prescribed financing policies.[2] RBI emphasized not to be
misused the subsidy funds and there should be benefit to micro
service sector units (RBI Technical paper on PSL).
After nationalization of banks Govt of India framed the policy
and directed to RBI to diversify the all credit programme
towards priority sector financing. RBI mainly focused their all
credit policy to focus on those area which are still unexplored
and non-beneficiary of credit programme. Small scale
industries (SSI), agriculture (direct and indirect finance), water
transport operators and small road and self-employed persons,
education, housing, micro-credit, weaker sections1 etc are the
part of priority sector lending.[3] Priority sector lending mainly
controlled by RBI through monthly returns obtained from all
commercial banks. Priority sector financial is on an increasing
scale since seventies and more funding to backward regions,
implementation of credit plan with preparation and

2. REVIEW OF RELATED LITERATURE:

Vyas committee (2001) concluded that commercial banks are

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SKIT RESEARCH JOURNAL

reluctant to extend the lending in small borrowers. Niranjana

and Anbumani (2002) showed results that low interest income
yielded from priority sector lending due to highly subsided
interest rates. There is dire need of funds in priority sector
(Shete, 2002) public sector banks are meeting the stipulated
targets in given time frame of regulators. Department of
Banking Supervision (1999) did study regarding
nonperforming assets in priority sector advance and resulted
that NPA is on higher side other sector.[8]
Highlights are given in below paragraph in brief Joshi (1972)
proposed the RBI has to prescribe specific and clear definition
of priority sector component since some bankers unable
understood the guidelines. Chawala (1979) did study on credit
flow dimentions in priority sector for time period of seventies
decade and concluded that the purpose of PSL by banks is not
meaning full for which it is made for. Angadi (1983) studied the
PSL focus in general and agricultural advances in particular in
some state of India in respect of rapid branch expansion,
privileged cropped area, deposit mobilization, adoption of high
yielding variety etc.[9] Joshi (1986) observed weak fund
management capacity of banks due SLR (statutory liquidity
ratio), CRR (cash reserve ratio) and PSL. He observed that the
low yield rate and rising cost contributed at highest the
declining trend in banking profitability. Singh (1987) find out
many exogenous and endogenous areas for the strains and
stresses of banking. Mainly SLR, CRR are major of them being
continuous increase, persistent emphasis on social goals, rapid
branch expansion in the under banked areas, growing incidence
of industrial sickness, unfavorable change of deposit mix and
growing incidence.
Ahmed (2005studied that quantum of advances was increased
by commercial banks together to small industries but same
proportion not increased in PSL.
Bhati (2006) studied the lending climate for banks in
developing economies like India. they found that banks in India
undertake many additional risks when they lend due to the
government policies. Lending relationship between branch
manager and loan officer of bank branches in India is
focused.[10]
Rikta (2006) studied on financing policy and institutional
lending for micro sector in Bangladesh observed the
effectiveness of fiscal, financial and related policies for
financing the micro and small sector.[11] Paper suggested that
appropriate funding should be done by the financial institutions
along with acceptance of lending risks. A study NPAs on the

causes and consequences of commercial banks, by Rajesham

and Rajender (2007), obserevd that a satisfactory solution to the
problem of mounting NPAs can be solved by strong political
willingness.
3. PRIORITY SECTOR LENDING BY ALL BANKS:
THE NATIONAL DATA.
Bank Credit to Priority Sector in India
Table No.:1 Deployment of Bank Credit to Priority Sector in India
(Amount in Billion Rupees)

As on the
last reporting
Friday of March

Public
Sector
Banks

Private
Sector
Banks

Foreign
Banks

2012

11299.93

2864.19

805.59

2013*

12822.12

3274.06

848.54

*as on March 31, 2013, (Source:- Website of Reserve bank of India

b. Recovery of Direct Agriculture Advances

Table No.:2 Recovery of Direct Agriculture Advances
(Amount in Billion Rupees)

Year
ended
June

Demand

Recovery

Overdue

Per cent of
Recoveryto
Demand

2010

1,244

922

322

74.09

2011

1,822

1,383

439

75.9

2012

1,918

1,429

489

74.51

Source:- Website of Reserve bank of India

c. Flow of credit to Micro, Small and Medium Enterprises

Table No.: 3 Credit to Micro and Small Enterprises by SCBs

As on last
Friday of
March

Outstanding Credit to MSE sector

Number of
accounts
(in Rs million)

Amount
outstanding
(Rs billion)

2012

9.86

5,276.85

16.5

-6

-10.3

2013*

11.23

6,847.97

-13.9

-29.8

* : As on March 31, 2013.

Figures in parentheses indicate y-o-y change in per cent.
Source:- Website of Reserve bank of India

80

MSE credit
as per cent
of ANBC

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d. Financial Inclusion:Table No.: 4 Financial Inclusion Plan - Summary progress of all banks including RRBs

Particulars

Year ended
Mar 2010

Year ended
Mar 2011

Year ended
Mar 2012

Year ended
March 2013

Progress
April 2010 March 2013

Banking Outlets in Villages - Branches

33,378

34,811

37,471

40,837

7,459

Banking Outlets in Villages - BCs

34,174

80,802

1,41,136

2,21,341

1,87,167

Banking Outlets in Villages - Other Modes

Banking Outlets in Villages - TOTAL
Urban Locations covered through BCs

142

595

3,146

6,276

6,134

67,694

1,16,208

1,81,753

2,68,454

2,00,760
26,696

447

3,771

5,891

27,143

Basic Savings Bank Deposit A/c through branches (No. in millions)

60.19

73.13

81.2

100.8

40.61

Basic Savings Bank Deposit A/c through branches (Amt. in Rs billions)

44.33

57.89

109.87

164.69

120.36

Basic Savings Bank Deposit A/c through BCs (No. in millions)

13.27

31.63

57.3

81.27

68

Basic Savings Bank Deposit A/c through BCs (Amt. in Rs. billions)

10.69

18.23

10.54

18.22

7.53

BSBDA Total (in millions)

73.45

104.76

138.5

182.06

108.61

BSBDA Total (Amt. in Rs. billions)

55.02

76.12

120.41

182.92

127.9

OD facility availed in Basic Savings Bank Deposit A/c (No. in millions)

0.18

0.61

2.71

3.95

3.77

OD facility availed in Basic Savings Bank Deposit A/c (Amt. in Rs. billions)

0.1

0.26

1.08

1.55

1.45

24.31

27.11

30.24

33.79

9.48

1,240.07

1,600.05

2,068.39

2,622.98

1,382.91

KCCs - (No. in millions)

KCCs - (Amt. in Rs. billions)
GCCs - (No. in millions)

1.39

1.7

2.11

3.63

2.24

GCCs - (Amt. in Rs. billions)

35.11

35.07

41.84

76.34

41.23

ICT A/Cs-BC- Transaction - No. in millions

26.52

84.16

155.87

250.46

490.49

ICT A/Cs-BC- Transactions - Amt. in Rs. billions

6.92

58

97.09

233.88

388.97

Source:- Website of Reserve bank of India

4. OBJECTIVES OF THE STUDY:

The discussions relating to the PSL (priority sector) advances of
commercial banks at the national level shown that there are a
many serious issues relating to the PSL those became great
problem of the policy makers. Problems relating to the
sustainability of PSL can be studied in the on realistic round.
For that, an empirical study has been conducted over one of
commercial banks namely IDBI Bank Ltd.
(a) To study priority sector lending to micro small medium
enterprises and farmers.
(b) To study enhancement in priority sector lending.
(c) To study the determinants of PSL by IDBI banks over the
years of study.

6. BACKGROUND OF THE STUDY AREA:

IDBI Bank's evolution has been remarkable, spanning five
eventful decades dedicated to helping build modern India in
every possible way in two avatars, first as an apex Development
Financial Institution (IDBI) and then as a full- service
commercial bank. IDBI Bank, with a majority Government
shareholding, is a technology-focused, new generation
universal Bank, which endeavors to make a difference in the
nation's banking landscape through a products of retail, SME,
corporate and Agri products and services.
First, as an apex Development Financial Institution (DFI) for
industries and thereafter as a commercial bank, it has played an
important role in helping accelerate India's industrial and
economic progress and essayed a leading role in the
establishment of almost all the prominent institutions in the
industrial and capital market sector, apart from nurturing
industrial houses, which are household names today, almost
from their inception, and, in general, supporting the dreams of
corporate India in every industrial sector. Even in a rapidly
expanding economy, nearly half of the country's population still
remains unbanked.[12] The Bank perceives this as a significant
opportunity to enhance its market presence in rural India to
focus on priority sector lending and service of weaker section.

5. METHODOLOGY OF STUDY:
We have collected secondary data from RBI Annual Report,
RBI Report on Currency and Finance, IDBI bank's annual
report & IDBI bulletins of the covered for the purpose of the
study. The study is mainly subjected to statistical techniques i.e.
growth rate analysis, parametric tests etc. Channelization of
credit has been examined with the analysis of correlation
matrix. Growth of bank credit in the area is studied under linear
growth. Credit targets and actual achievements comparison has
been made for performance judgment. Recovery in agriculture
sector has been studied.

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based Business Correspondent (BC) model or brick and- mortar

branches. With the earlier 3-year FI Plan coming to a close as at
March 31, 2013, your Bank has drawn up a fresh 3-year FIP for
the period April 2013 to March 2016 to continue with the
process of ensuring access of banking and payment services to
the excluded section of society. The plan envisages the
coverage of 166 villages with a population of more than 2,000
and 1,500 villages with a population of less than 2,000 by end of
March 2016.

7. THE RESULT AND DISCUSSIONS:

A. Priority Sector Group Products:i) MICRO, SMALL & MEDIUM SIZE ENTERPRISES:Artisan Credit Card, Loan Against Property, Loans to
Professional and Self-employed, Laghu Udhyami Credit Card,
Finance To Medical Practitioners, SME Smart Line of Credit,
Loans to Small Road & Water Transport Operators, Sulabh /
Saral Vyapar, Vendor Finance Programme, Financing of
MSMEs for Energy Saving Project
ii) AGRI FINANCE:Contract Farming Loan, Basal Dose Loan, Harvesting and
Transport Loan, Lending to Micro Finance Institutions,
Horticulture and Forestry Development Loans, Financing
Irrigation Activities, Loan for construction and Running of
Storage Facilities, Poultry Farming, Dairy Loans, Finance
Against Warehouse Receipts, Retail Agriculture Advances
under Tie-up arrangement with Corporates, IDBI Surya Shakti,
Individual Farmer Based Products, Financing Agri Linked
Other Activities (Pisciculture, Sericulture, Sheep & Goat
Rearing, Purchase of Bullock Pair & Cart, Piggery, Apiculture),
Farm Mechanization Loan, Financing for Agri Clinic and Agri
Business Centres, General Credit Card for rural and semi-urban
centres, Kisan Credit Card / Crop
Loans, Land Development Loans, Loan for Purchase of Land,
Micro Loans for individuals and SHG/JLG members, IDBI
Kisan Mitra-Debt Swap Scheme, IDBI Kisan Tatkal Scheme,
Financing to Agri Input Suppliers, Agri Gold Loan, PSL Gold
Loan (Other than for Agriculture Purposes)

nation's economic growth needs no reiteration. MSMEs have

thus been accorded an important role in your Bank's growth
charter. It has set up dedicated Credit Processing Centres at
various geographical locations to speed up credit delivery.
Bank has also set up dedicated branches at locations covering
most of the prominent MSME sectors and clusters across the
country. In addition to the above, all its retail branches are
empowered to service MSME customers.

B. Financial Inclusion:- The Government of India, together

with the RBI, has embarked upon the mission of fostering
inclusive growth in the country. The process of financial
inclusion ensures access to appropriate financial products and
services for low-income groups of society at an affordable cost
and in a fair and transparent manner. Your Bank supports the
nation's initiatives in this crucial socioeconomic objective. The
Board of the Bank had approved a three-year roadmap (20102013) for providing banking services in unbanked and underbanked areas, which envisaged a coverage of 119 villages with
population of more than 2,000 and 118 villages with population
of less than 2,000, based on villages allotted to your Bank by the
State Level bankers' Committee (SLBCs).
The 3-year Financial Inclusion Plan (FIP), which ended on
March 31, 2013, saw your Bank cover all allotted 119 villages
through the Information & Communication Technology (ICT)

E. Agriculture and Rural Development:- At IDBI Bank, a

dedicated team of officers in Agri Business Group extend
knowledge-based credit to the farming community to improve
farm productivity and quality of life of rural population. It
operates from 22 Agri Processing Centres and 7 Regional
Offices in the country for speedy disposal and quick decisions.
The Bank's Agri Business Group owns branches only in
agriculture intensive areas, but supports other branches for the
growth of agribusiness. Agricultural lending comprises direct
lending to the farmers or a group of farmers, assistance to
corporates or cooperatives engaged in processing agriculture
produce and entities supporting agriculture sectors. Bank's
engagement with farmers and other agriculture intermediaries
was also enhanced through participation in various 'AgriExpo'
and 'Loan mela' conducted at different locations of the
nation.[14]

C. Rural awareness programmes:- In order to spread

awareness on importance of banking services amongst the rural
populace, your Bank set up Vittiya Sakhsharta Jankari
Kendras in its rural branches, pursuant to the issuance of
revised guidelines on Financial Literacy Centres by the
RBI.[13] These centres provide financial literacy services to
customers. As part of your Bank's Corporate Social
Responsibility (CSR) initiatives in the FI domain, it established
a partnership with Tata Institute of Social Sciences (TISS) in
2011 for a period of two years through May 2013 to promote its
FI Programme.
D. MSE Initiatives:- The importance of MSME sector in the

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F. Deployment of IDBI Bank Credit in Priority Sector Lending as on March 31, 2013:
Table No.: 5 Financial Inclusion Plan - Summary progress of all banks including RRBs

PSL Sector wise

ABG

PBG

MSME

ICG

CBG

Recovery

Total

Agriculture

5031.97

2736.35

58.49

260.31

83.57

8170.69

Direct Agriculture

2651.75

2185.18

6.59

25.46

9.27

4878.26

Indirect Agriculture

2380.22

551.16

51.9

234.85

74.3

3292.43

Micro and Small Enterprises (MSE)

6629.57

1532.02

3008.58

143.21

2572.96

345.45

14231.78

Direct

6448.54

1530.41

3008.58

143.21

1152.74

345.45

12628.92

Micro Enterprises

1122.89

406.87

161.53

65.1

8.82

1765.21

Small Enterprises

5506.67

1125.15

2847.06

143.21

2507.86

336.63

12466.57

Indirect

181.03

1.61

1420.21

1602.86

Housing Loan

456.36

13162.58

0.33

1901.3

15520.58

Direct

456.36

13162.58

0.33

3.34

13622.62

1897.96

1897.96

738.78

0.79

14.7

754.27

6.79

165.49

172.27

12863.45

17597.23

3067.41

143.21

4749.27

429.02

38849.59

Total Priority Sector Lending

12863.45

17597.23

3067.41

143.21

4749.27

429.02

38849.59

Non Priority Sector Lending

2331.7

15400.75

2574

45310.87

86231.31

1431.74

153280.37

15195.15

32997.99

5641.41

45454.08

90980.58

1860.76

192129.96

Indirect
OPS
Education
IBPC
Priority Sector Lending
IDBI Home Finance

Grand Total
Source: - IDBI Bank Ltd

G. Deployment of IDBI Bank Credit in Priority Sector Lending as on March 31, 2012
Table No.: 6 PSL Achievement as on March 2012

PSL sector wise

ABG

PBG

MSE

MCG

ICG

LCG

RECOVERY

TOTAL

Agriculture

9506.69

1336.57

575.72

1483.22

1515.8

89.83

14407.83

Direct agriculture

6486.24

513.06

263.77

374.16

122.27

19.88

7779.38

Indirect agriculture

3020.46

823.51

311.94

1109.06

1293.53

69.95

6628.45

5263

368.86

5841.92

5043.97

126.66

202.84

239.42

17086.67

Direct

5110.61

363.86

5841.11

1440.99

126.66

189.04

239.42

13311.69

Micro enterprises

2425.24

77.7

2626.24

112.71

142.67

0.95

5385.53

Small enterprises

2837.75

291.15

3215.68

4931.26

126.66

60.17

238.17

11701.14

Micro and small enterprises

Indirect

152.39

0.81

3602.98

13.8

3774.98

Housing loan

1390.85

13860.27

1.12

876.57

16129.08

Direct

1390.85

13860.27

1.12

15252.51

876.57

876.57

OPS

1211.97

185.94

60.42

18.72

1477.05

Micro credit

966.41

0.62

0.16

967.19

Education

198.02

128.91

326.93

Weaker section

47.54

56.41

60.26

18.72

1477.05

Indirect

IBPC#
PSL
Non-PSL
Grand Total

1000

1000

17372.51

15751.64

6479.19

7403.76

126.66

1618.64

347.97

49100.62

995.95

14531.37

2623

29892.68

31435.7

47250.08

702.08

127453.14

18368.46

30283.01

9102.19

37296.44

31562.36

48868.72

1050.15

176553.76

Note:- Weaker Section (Exclusive) should not be taken as Outstanding to Weaker Section.
# Out of Rs 1000 Cr IBPC, Rs 810 Cr is under Indirect Housing and Rs 190 Cr is under Education.
Source: - IDBI Bank Ltd

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Figure no.: 1 PSL as on March 2012

the bank for achievement of focus areas of priority sector

landing with sustainable priorities of the government on
economy i.e. growth of micro and small entrepreneurs and
promotion of agriculture with backward area development etc.
IDBI bank is moving ahead for achievement of priority sector
lending.

PSL as on 31.03.2013
Agriculture
Direct Agriculture
Indirect Agriculture

[1]

[2]

Micro and Small

Enterprises (MSE)

[3]

Direct

[4]

Source: - IDBI Bank Ltd

[5]

A. Inter-relationship between Non-Performing Assets and

Priority Sector Advances: Information relating to priority
sector NPAs are not available in the area under study, an effort
has been made to study the relationship between PSL and NPA
to identify with share of the same to total nonperforming asset.
It can be discussed that priority sector is the sole factor in
enhancing the amount of nonperforming asset in the area of
study. The non-PSL advances are also responsible apart from
other bank factors like ratio of nonperforming asset to
advances, credit deposit ratio.

[6]
[7]
[8]

[9]
[10]
[11]

[12]

8. CONCLUSION
On the basis of analysis of the data, it can be inferred that IDBI
Bank has large exposure in MSMEs (micro small medium
enterprises) and SMF (small marginal farmers), it being seen
that IDBI bank is continuously increasing its share in priority
sector lending. IDBI is extending priority sector lending to the
weaker sections and need full persons of the society. That helps

[13]
[14]

84

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Rangarajan. 1991. Banking Development Since 1948; Achievement and
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