International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Comparative Analysis of Priority Sector Credit to Weaker Sections: A Comprehensive Study of Public and Private Sector Banks in India

Author(s) Dr. Provinder Kumar
Country India
Abstract This comprehensive study conducts a comparative analysis of priority sector credit to weaker sections, focusing on both public and private sector banks in India. The research delves into the historical context, policy framework, and literature reviews related to priority sector lending. The study is divided into two phases (2013-2017 and 2018-2022) and employs a robust research methodology, including compounded annual growth rate (CAGR), mean value analysis, and a test of hypothesis for mean values. The results reveal a discernible increase in advances made by both public and private sector banks to weaker sections, reflecting a commitment to inclusive growth. Public sector banks exhibit a higher CAGR during both study phases and consistently meet prescribed targets. Private sector banks show impressive growth rates, overcoming challenges in meeting targets. Hypothesis testing confirms significant differences in mean values between public and private sector banks, emphasizing their distinct approaches. Detailed bank-wise analyses for both sectors provide insights into their contributions, growth rates, and compliance with targets. The study concludes with recommendations for policymakers and regulators to refine and monitor priority sector lending policies. Collaboration and knowledge sharing initiatives are suggested for private sector banks to enhance their performance. Overall, the study underscores the importance of sustained efforts by both sectors in aligning lending practices with priority sector goals for inclusive economic growth in India.
Keywords Priority Sector, Compounded Annual Growth Rate (CAGR), Weaker Sections, Policymakers, Inclusive Economic Growth.
Field Sociology > Banking / Finance
Published In Volume 5, Issue 6, November-December 2023
Published On 2023-12-26
DOI https://doi.org/10.36948/ijfmr.2023.v05i06.11165
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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