Business Studies

The concept of 'Priority Sector Advances' was formulated in _______.


ANSWER

1968


SOLUTION
$$1968$$ The priority sector advances which is also known as priority sector lending basically refers to lending to  those sectors of the economy which may not get adequate credit or the loan on timely basis so the priority sector advances is an important role which has been given by the Central Bank of India to the banks to provide a specified portion of the bank lending to the specific sectors of the economy  so as to give the priority to some of the sectors who do not get the timely credit.
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Single Correct Medium Published on 18th 08, 2020
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