The concept of weaker sections under ‘priority sector’ was introduced on the recommendation of which of the following committees?
[A] Krishnaswami Committee
[B] Varshney Committee
[C] Gadgil Committee
[D] Abid Hussain Committee
Correct Answer: A [Krishnaswami Committee]
The term Priority Sector Lending was defined in the year 1972 by Krishnaswamy Committee. Initially banks were given a Priority sector lending target of 33.33%. But following the Krishnaswami Committee’s recommendations, the targets were raised to 40%.
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22.Who is the author of “Volatility and Growth”?
23.In which type of economy, competition doesn’t exist in the market?
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26.What was the Indian economy share in the world economy immediately after Independence?
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