Important Banking Awareness Questions on Priority Sector Lending
Important Banking Awareness Questions on Priority Sector Lending for upcoming banking and insurance exams. SBI PO, IBPS PO, NIACL Assistant, Bank of Baroda, Dena Bank, etc.
- Which of the following category does not comes under priority sector?
A) Micro, Small and Medium Enterprises
B) Export Credit
C) Social Infrastructure
D) All come under priority sector
View Answer
Option D
Explanation: Priority Sector includes the following categories:
(i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others
- Foreign banks with 20 branches and above have to achieve the Total Priority Sector Target by a maximum of ?
A) March 31, 2020
B) March 31, 2019
C) March 31, 2018
D) March 31, 2021
View Answer
Option C
Explanation: Foreign banks with 20 branches and above have to achieve the Total Priority Sector Target within a maximum period of five years starting from April 1, 2013 and ending on March 31, 2018 as per the action plans submitted by them and approved by RBI.
While for foreign banks with less than 20 branches to be achieved in a phased manner by 2020 .
- Which of the following is not the sub-category under Agriculture in Priority Sector Lending?
A) Farm credit
B) Storehouse Infrastructure
C) Agriculture infrastructure
D) Ancillary activities
View Answer
Option B
Explanation: The activities covered under Agriculture are classified under three sub-categories viz. Farm credit, Agriculture infrastructure and Ancillary activities.
- Bank loans up to _____ to Micro and Small Enterprises are eligible for classification under priority sector.
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option A
Explanation: Rs 5 crore
- Bank loans up to _____ to Medium Enterprisesare eligible for classification under priority sector.
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option B
Explanation: Bank loans up to ₹ 5 crore per unit to Micro and Small Enterprises and ₹ 10 crore to Medium Enterprises engaged in providing or rendering of services and defined in terms of investment in equipment under MSMED Act, 2006 are eligible for classification under priority sector.
- What is the applicable limit for social infrastructure loans under priority sector?
A) Rs 1 crore
B) Rs 2 crore
C) Rs 4 crore
D) Rs 5 crore
View Answer
Option D
Explanation: Bank loans up to a limit of ₹ 5 crore per borrower for building social infrastructure for activities namely schools, health care facilities, drinking water facilities and sanitation facilities (including loans for construction/ refurbishment of toilets and improvement in water facilities in the household) in Tier II to Tier VI centres are eligible for classification under priority sector.
- What is the applicable limit for renewable energy loans under priority sector?
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option C
Explanation: Bank loans up to a limit of ₹ 15 crore to borrowers for purposes like solar based power generators, biomass based power generators, wind mills, micro-hydel plants and for non-conventional energy based public utilities viz. street lighting systems, and remote village electrification are eligible to be classified under priority sector loans under ‘Renewable Energy’. For individual households, the loan limit is ₹ 10 lakh per borrower.
- What is the loan limit for education under priority sector?
A) Rs 5 lakh
B) Rs 10 lakh
C) Rs 15 lakh
D) Rs 20 lakh
View Answer
Option B
Explanation: Loans to individuals for educational purposes including vocational courses upto ₹ 10 lakh irrespective of the sanctioned amount are eligible for classification under priority sector.
- What is the limit for housing loans in metropolitan centers under priority sector?
A) Rs 15 lakh
B) Rs 20 lakh
C) Rs 28 Lakh
D) Rs 35 lakh
View Answer
Option C
Explanation: Rs 28 Lakh
- What is the limit for housing loans in non-metropolitan centers under priority sector?
A) Rs 15 lakh
B) Rs 20 lakh
C) Rs 28 Lakh
D) Rs 35 lakh
View Answer
Option B
Explanation: Loans to individuals up to ₹ 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to ₹ 20 lakh in other centres for purchase/construction of a dwelling unit per family, are eligible to be considered as priority sector provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed ₹ 35 lakh and ₹ 25 lakh, respectively. Housing loans to banks’ own employees are not eligible for classification under priority sector.
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