In the context of banking in India which of the following agricultural and allied activities can be ...........

Economic Affairs Agricultural Finance

In the context of banking in India, which of the following agricultural and allied activities can be granted loans under the scheme of Priority Sector Lending?

1. Setting up Compressed Biogas Plant.

2. Installation of solar plants.

3. Agricultural Machinery.

4. Loans to Farmer Producing Organizations

5. Food Processing

Select the correct answer using the codes given below:

1, 3 and 4 only

3, 4 and 5 only

1, 2, 3 and 4 only

1, 2, 3, 4 and 5

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Explanation:

Explanation:

Priority sectors refer to those sectors of the economy which may not get timely and adequate credit in the absence of this special scheme. Typically, these are small value loans to those sectors of the society/economy that impact large segments of the population and weaker sections, and to the sectors which are employment intensive such as agriculture and small enterprises.
Statements 1, 2, 3, 4 and 5 are Correct: In Agriculture sector, following activities can be granted loans under the Priority Sector Lending:

1. Loans to Individual farmers and Farmer Producer Organisations.
2. Crop loans, machinery loans for all kinds of agri and allied activities.
3. Loans for food and agro-processing activities are also included under Agriculture.
4. Loans for installation of solar plants and for solarisation of grid connected pumps.
5. Setting up Compressed Biogas plants.