Consider the following statements with reference to Priority Sector Lending PSL All the foreign bank...........

Economic Affairs Types of Banks and Banking

Consider the following statements with reference to Priority Sector Lending (PSL)

All the foreign banks in India are not mandated to follow priority sector lending norms.
Certain loans to individuals for educational purposes including vocational courses are eligible for classification under PSL.
The Reserve Bank of India (RBI) has recently declared to bring startups under the purview of priority sector lending (PSL).

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

Recently, the RBI has tweaked Priority Sector Lending (PSL) norms.

It has now brought startups under the purview of priority sector lending.
Priority Sector refers to those sectors of the economy which may not get timely and adequate credit.
PSL is an important role given by RBI to the banks for providing a specified portion of the bank lending to few specific sectors.
The PSL norms mandate foreign banks to eventually lend 40% of their total loan book to the priority sector.
Priority Sector includes the following categories: Agriculture, Micro, Small and Medium Enterprises, Export Credit, Education, Housing, Social Infrastructure, Renewable Energy and Others.
Certain loans to individuals for educational purposes including vocational courses are eligible for classification under PSL.

Hence only statements 2&3 are correct.