CHAPTER ll

REVIEW OF LITERATURE

CHAPTER I I

REVIEW OF LITERATURE

The primary objective of social control and nationalization is to ensure a

better alignment of the commercial banking system to meet the needs of the

economy. It is the duty of the banks to see that credit flows into channels that

are most productive and most helpful to our growth and development. To

promote the welfare of the people who are socially and economically backward,

the concept of priority sector lending was evolved.

Quantitative targets were set for lending to priority sector and separate

sub-targets were also set for lending to agriculture and weaker sections of the

society. As a result, lending to the borrowers in priority sectors have increased

substantially. Increased flow of credit to the different sectors assisted the

developmental activities and thereby expanded the income as well as the

standard of living of the people.

Several studies on this subject in a restricted sense have been

undertaken by particular banklgroup of banks, individuals and organizations.

Number of Committees appointed by the Government of lndia and RBI have

also studied the banking problems of the country. Presented below is the review

of such literature.

1 P N 10.111 ( ' (>7 ' ) \ r w n r t s +bat cornrnerc~al b a k s are reluctant to give

loans and advances to the priority sector, including self employment schemes.

This is mainly due to the reason that the banks have no clear and precise role

about the scope of lending to the priority sector. He has also argued that the

Reserve Bank of lndia should give a clear definition of the different components

of the priorlty sectcr, which will enable the commercial banks to increase their

participation in lending to priority sector.

M.A.Oommen (1972)~ states that commercial banks have an important

role in financing SSI units in Kerala. Though the financial institution at state

level and all lndia level provided financial assistance to SSI units for meeting

their flxed and working capital requirements, the major part of the financial

requirements of SSI units are satisfied by the loans and advances of

commercial banks.

Purohit M,C (1973)~, in his study on Small Artisans and Potential for Bank Financing, conducted in Jaipur City, states that the working capital

requirement alone accounts for 89 per cent of the total financial requirements.

The share of raw material in the total working capital requirement is substantial.

He adds that 36 per cent of the artisans run their units with borrowed 'funds.

These artisans who borrowed funds had mainly relied upon non-bank financing

intermediaries No artisan has borrowed from any co-operative agency or

governmental agency, a few relied on commercial banks. Ignorance about the

facilities provided by the commercial banks and the. inability of the artisans to

fulfill the bank requ~rements to avail easy loans have forced the artisans to take

financ~al assistance from non-banking financial institutions at a higher rate of

interest.

Namb~ar P O.D. ( 1 9 7 7 ) ~ conducted a study on financing of Priority

Sector. He is of the view that the commercial bank's neglect of priority sectors

including agr~culture, small scale industries, small artisans, self employed

persons, etc, is one of the major reasons for their backwardness. The banks are

reluctant to take up the financing of the priority sectors due to the smallness of

their size arid their precarious existence at the margin of viability. Their urban

origin, security orientation, methods and procedures of operations are not

suitable for financing the priority sectors. Financing of priority sectors is a new

experience for the banks and presents a number of problems. They have to

reorient their lending policies with a shift of emphasis from security to viability of

the project. He also states that the role of commercial banks in the priority

sectors does not end with the provision of finance but it also includes the

evaluation of the feasibility of a project and to aid the entrepreneurs to select

the right type of projects. An improved co-ordination between various agencies

including governmenl agencies and commercial banks is necessary for a better

result.

S.L.Shetty (1978)~ conducted a study on the achievement of commercial banks since nationalization. HIS study, reveals that the credit deposit ratio of

banks which are not relatively participating in priority sector lending is h i g h s

than the average credit deposit ratio. He also states that a few branches of

banks performed well in priority sector lending by concentrating in certain areas

of prior~ty sector by neglecting other areas. These branches recorded

remarkable credit deposit ratios. He added that in some states commercial

banks concentrated highly in priority sector lending.

In his study tic? makes an attempt to establish the relationship between

credit deposit ratio of commercial banks and priority sector lending.

I.G.Patel (1979)~ is of the view that banks in the country have a very important role rn uplifting the socio-economic status of the weaker sections. For

accelerating the development of the economy, it is the poorest section of the

people which have to be uplifted. The banks have a special responsibility to

uplift the poorest strata of the people. Towards this end, they should give more

attent~on in financ~ng schemes with objectives of providing employment opportunities to the weakest of the weaker section of the people whether they

are in the rural or urban areas.

Singh and Balraj (1979)' conducted a study on advantages of loans from banks in Hissar D~strict of Haryana, and states that rural people are under the

explo~tation of moriey lenders. Majority of the villagers depend on the money

lenders for the~r personal and business purposes because of their mode of

operation is best suited to the rural people. Operation of a nationalized bank in

the village can relieve the rural people from the exploitation of money lenders to

a certa~n extent. They also report that the banking facilities are not easily

accessible to the rural people because of the cumbersome procedure,

unnecessary formalities and delay in disbursement of loans.

L.D'Mello (1980)%onducted a study on Bank credit for weaker sections and states that commercial banks which are sewing the business community in

cities and urban areas are unable to provide big amount of credit to the weaker

sections. Diversion of funds for lending to weaker section may affect the

profitability of the commercial banks and they are not ready to sacrifice their

profits.

C.L.Kheman~ and K.V.Balakrishnan (1981)' in their study on the importance of consumption credit to weaker sections states that the target

group under the spor~sored schemes should be granted consumption loans for

their specific needs Wh~le granting the consumption loans, the capacity of the

borrowers to repay the loans should be considered. They also remark that the

very objective of priority sector lending cannot be said to be achieved if the

beneficiaries under the sponsored schemes are approaching the money lenders

for therr consumptiorr credit.

K D~nkar Rao (1982)'' conducted a study on Lead Bank Scheme and states that Extension of credit to priority sector is a social obligation. It is to be

shared between the agencles, Including the government departments and the

f~nanc~al agencles who are involved in the rmplementation of the schemes for

development of agriculture and other prior~ty sectors. The Lead Bank Scheme is

the best alternative tor sharing responsibility at the grass root level on a mutual

bass. The lead role IS not merely confined to the Lead Bank shouldering the

major responsibility iri branch expansion and credit extension. The stress is laid

on the lead bank's hason role in integrating credit with complimentary inputs

and services. The priority sector lending involves considerable extension

efforts. The credit agencies or the government departments or both have to

ensure the critical integration of credit with inputs and services. This would

require co-ordination among financial institutions and in many cases collective

act~on by them. These tasks would become immensely complex if individual

agencles act ~ndeperidently In the short run the Lead Bank Scheme can only

facilitate the flow of a given quantum of credit to the priority sector, but may not

be able to increase this quantum. The Lead Bank Scheme can only be

expected to reflect the local needs and genuine regional grievances, the

influence of which could be felt only in the long run.

B.K. Sarkar (1983)" opines that success of a marketing drive for the target group in the priority sector depends on a careful study of each segment

of the society. The need and capacity of the borrowers and their willingness to

take activities, etc. should be thoroughly analysed. The desired result can be

achieved only if the borrowers utilize the amount borrowed by them for the

purpose for which it has been lent

A.R. Patei (1984j.' conducted a study on the performance of the public sector banks in lending under the differential rate of interest scheme. The study

rreveals the bank~ng progress in lending to SCIST borrowers under the scheme.

'The number of SCIST borrowers and the amount advanced increased

remarkably. But compared to the number of borrowers and their demand for

fund, the allocation by the banks under the scheme is very limited. Therefore

the banks are unable to finance all the eligible beneficiaries under the DRI

Sche~;ie The study i n s also thrown l~ght to the fact that a number of el~gible

borrowers could not avail loan under the DRI scheme but at the same time a

number of well settled influential persons availed loans under the scheme.

Balishter and Roshan Singh (1984) '~ in their study on Integrated Rural Development Programme expressed the view that the recovery of loans

advanced by the Bank under the IRDP is satisfactory in all categories of

families and this nullified the common impression that advancing of loans to

weaker sections would lead to accumulation of bad debts.

i.Sathya Sundaram (1984)14 remarks that a number of schemes are formulated and implemented for the development of rural economy. The

success of such schemes depends on the operation of the credit agencies

which are entrusted with the task of helping the rural poor. The establishment of

more and more credit agencies will create confusion in, the rural credit

operat~on. Therefore, a proper co-ordination among the credit agencies is

essential for the better implementation of the scheme and which will be more

helpful to the rural poor.

Raut (1984)'~ conducted a study on scope and problems of financing

tribal farm development by Land Development Banks and indicates that the

problems of overdue IS mainly due to misutilisation of loans by tribal farmers.

The tendency to misutilise the loan is due to the fact that the consumption

priorities of tribal farmers are of more urgent nature than asset building

~riorities

Raj Kishore Panda (!985)16 states that the diversion of credit towards non-productive purposes is more among medium and large farmers than

among small farmers.

Ramesh Chand and Sidhu (1985)" in their study states that high level of education of the borrowers or family members of the borrowers contributes

towards non-defaulters This factor which places the borrowers into defaulters

group are the higher values of ratio of dependence on the family, capital

expenditure and total borrow~ng. While lower levels of education, ratio of

dependents in the family. consumpt~on expenditure and net cash income

account willful default and reverse is true for non-willful defaulters.

Viswanathan B.S. (1985)'' conducted a study on rural co-operative credit and states that the overdues to a large extent are on account of willful default

which 1s either due to an ineffectwe recovery machinery or because of

unfavourable recovery climate.

D.P.Khankhoje and V.r.Godse (1986)" conducted a study on Systems and Procedures in priority sector lending. In the study They state that banks are

following unnecessary procedures and systems in priority sector lending. Such

procedures are very rigid and cause delay in disbursement of loans. The banks

should simplify the procedures especially those relating to the documentation.

But there should not be any simplification in supervision and control over the

scheme.

I.Satya Sundaram (1986)" conducted a study on DRI Scheme and points out some of the problems of the Scheme. Fund allocation under the DRI Scheme is

insufficient when compared wlth the number of borrowers under the scheme.

Moreover the borrower utilizes the loan amount of loan for purposes that are

outside the scope of the scheme There is no change in the standard of living of

the beneficiaries even after implementation of the scheme. He is of the view

that for achieving the desired result under the scheme, some means of control

are necessary.

R.N. Maihotra (1986)'' conducted a study on the role of banking in Rural

Development and opines that banks should actively participate in rural credit.

They should provide financial assistance against viable projects and exercise

effective control over credit utilization. The responsibility of the banks does not

end wlth the disburserr~ent of loans. They should see that the borrower utilizes

the amount of loan for the purpose for which it has been sanctioned. Credit

institutions with such responsibility alone can contribute to the rural

development.

S F . Dangat. SRRadkar and M.P.Dhongada ( 1 9 8 6 ) ~ ~ conducted a micro

leve! study on the utilization of fund borrowed under medium and long terms

loans. In the study they state that most of the borrowers use the medium and

long term loans are for their personal and unproductive purposes. The funds

are mainly used by the borrowers for conducting marriages and other functions,

constructton of buildings for residential purposes, repayment of earlier debts,

etc. Proper appraisal, guldance and supervision by the bank personnel are

essent~al to ensure that the borrowers utilize the amount borrowed by them for

product~ve purposes.

B. Ramachandra Rao (1987)'~ conducted a study on the Evaluation and monitoring of Priority Sector advances. In the study he suggests that the priority

sector advances should be given at low rate of interest only to the deserving

people. The object of the scheme cannot be achieved if such loans are provided to the financially sound persons. Better monitoring and supervision by

the banks will be required to ensure that the funds are disbursed to the right

persons and it is utilized for the right purpose. This will in turn increase the

profitability of the banks.

Econom~c Research Department of the State Bank of India, Central Office.

Bombay (1987)'~ conducted an observative study on the impact of bank credit on the weaker sections in Kerala. The study reveals that the financial

assisrance from the banks has helped many poor and efficient workers to start

self-employed business units. The study also reveals that the bank loans help

to generate employrnent opportunities and income of the people thereby

increases the standard of living of the poor.

H C. Malhotra and Kulshrestha (1987)'~ opines that bank loans will not improve the quality of life of the poor unless the borrower utilizes the fund for

productive purses. To ensure utilisation of fund for productive purposes, proper

monitoring and supervision by the lending banks are essential. They suggest

co-ordination between the lending agencies and minimizing competition to

improve the better util~zation of fund by the borrowers.

P.D.Ojha (1987)"~ the then Deputy Governor of RBI, made a comment on the Banking and Economic Development in India while inaugurating a

seminar at Sukhadai Jniversity, Udaipur. He remarks the borrowers default in

repayment of loans by the beneficiary is a common feature of the bank loans

under sponsored schemes like DRI, SSI. Self-employment and other priority

sector advances The accumulat~on of such default affects the efficient working

of the banking system. Banks flnd it difficult in recycling the credit and they are

discouraged in lending under sponsored schemes. He requests the banks to

make necessary appraisal of the proposal and grant loans only against viable

projects and that banks should have eKective supervision and control over the utilization of fund disbursed.

CRangarajan (,1988)" remarks that diversion of bank credit for productive purposes is essential for economic development. Banks are more

rigid in lending activities and therefore the deserving and needy people are not

getting financial assstance. New measures are essential to ensure that the

bank loans reach the deserving hands.

Muhammad Yunus (1988)" opines that financial assistance provided by the banks to the poor is not charity hence the banks should ensure that the

loans granted to the weaker sections are repaid in time. He adds that loans

without strict control will lead to rnis-utilisation of fund and the result will be

default in repayment of the loans for which the lending institution is responsible

and not the borrower.

N.A.Majumdar (1988)'~ conducted a study on Credit support to Priority Sector and states that the policy makers do not give due attention to Small

Scale Industries sector which contributes 40 per cent of the value added in the

rnanufactur~ng sector anci about 35 per cent of the total expects. But inspite of

their involvement, the credit extended to SSI Units has declined considerably

over the last few years. The capac~ty utilization in this sector is around 50 per

cent (weighted average) and one of the main reasons responsible for the gross under utilization is finance. T~mely and adequate availability of credit to this

sector would enable the capacity utilization to go up substantially both in the

short and the medium term. Thls would also enhance export capability.

R Munira] (1988)"' suggests that before granting loans, the beneficiaries shouid be properly motivated to use the credit, adopt improved technology,

keep up credit disciplirie, etc. They should be inculcated to banking habits.

Inadequate or lack of supervision and follow-up as well as lack of inter-

personai relationship between banker and borrowers - are the major causes for

the misutilisation 1 diversion of loans, which lead to low income, low savings and

rlon repayment If these factors are taken into consideration, the overdues can

be minimised to the extent of 60 to 70 per cent.

K.K Ammannaya 1:1989)~' opines that to solve the problem of poverty, the poorest among the poor shouid be identified and they should be provided

with financ~al assistance against v~able projects. They should also be provided

with adequate train~ng for the proper utilization of loan amount and be informed

about the responsibil~ty in repayment of the loan.

U.K. Sarma (1989)~' conducted a study on the Role of Bank in rural development and states that bank loans for the development of rural areas will

increase the rural inljebtedness unless such loans are utilized for productive purposes. Banks should be more careful in dealing with rural credit and they

should ensure that loans are sanctioned against viable projects and amount is

disbursed in time. Adequate and timely credit may help increased productivity

and profitability He adds that loans utilized for productive purpose will be repaid

in time

Manmohan Singh Gill (1990)" conducted a study on the problems of the borrowers in obtaining bank loans and impact of bank loans on their economic

and social status. The study reveals that most of the loans under the sponsored

schemes are sanct~oned on the recommendations of the political leaders and

officials and that the beneficiaries have given bribe to these leaders and officials

for obta~ning loans The study also reveals that though there is no much

progress in the social status, the loans have helped the beneficiaries to improve

their income status.

S.S. Kalra ( 1 9 9 0 ) ~ ~ opines that the recovery of loans under the sponsored schemes is a difficuit task of the banks and they should develop new

and improved technlql~es in credit recovery. He suggests that follow up and

supervis~on will facilitate better utilization of bank credit and its recovery in time.

Dr S.N.Bansal and Dr. V.K.Agarwal ( 1 9 9 1 ) ~ ~ are of the view in their

article "Why world bank is against priority sector lending" that the recovery

aspect is equally important to its lending counter part, the lending of money to

the rural masses alone is not going to deliver the goods unless it is

accompanied by an equally fast pace of recovery in our country. The recovery

of loan especially in rural areas is lagging behind the lending operations.

They are also of the view that the government policy of waiving of loans

~nake recovery of bank llsans more difficult. The beneficiaries who are regularly

repaying the loans wrll refrain from repaying the loans and this will result in non-

recycling the loan for further lending. Ultimately such policy affects the

economic progress.

Mohammed lqbal Ali and P. Krishnamachary ( 1 9 9 2 ) ~ ~ conducted a study on the performance of commercial banks in the implementation of

developmental schemes for weaker sections. The study reveals that bank credit

is essential for improving economic conditions of the weaker section. The study

also reveals that the petformance of the commercial banks in financing the

developmental schemes in rural and semi urban areas is satisfactory.

N.S.Toor (1993)'~ requests the banks to change their attitude towards SSI units. He is of the view that most of the problems of SSI units are beyond

their control and banks should adopt a helping attitude in delaing with SSI units.

Monitoring, supervision, follow-up and control are essential to ensure the

desired result.

A V. Dhond (1!394)38 conducted a study on the role of commercial banks

in the Development of Small Scale Industries. In the study, he remarks that the

importance of small scale industries in the economic development of our

country cannot be ignored. The multi-national companies which, are going to

set up their units in India will increase the demand for the products of SSI units.

Thus the SSI units have a bright future in the country. Therefore, the

commercial banks should take necessary steps to increase the credit to SSI

units.

A.R. Patel (1996)~' opines that the Government can help the commercial banks in the implementation and monitoring of schemes for the development of

rural areas. The Government can also help the banks by appropriate measures

in recovering the loans which w~l l reduce over dues in future. State participation

will help to increase the productivity and the amount of credit to the weaker

sect~~,ns.

Varghese K. John and Dr.C.V. Jayamani (1997)~' conducted a micro level study on Prime Minister's Rozgar Yojana. The study reveals that the procedures and formalities in sanctioning the loans are too lengthy and time

consuming. The procedures are almost duplication and cause unnecessary

delay in sanctioning the loan. To eliminate the duplication of work they suggest

that the feasibility of the un~t and capability and eligibility of the applicants must

be scrutinized by only one agency either the bank or the District Industries

Centre. They also suggest that the PMRY Scheme must be operated for the

benefit of the deserv~ng people

D P Sarda (1998)~' is of the view that government help by means of

leg~slat~ve measures 1s essent~al to fac~l~tate the speedy recovery of the loan

under government sponsored schemes He suggests that the problems relat~ng

to over due and recovery of loans should be d~scussed in the State Level

Bankers Meet~ng and to take the help of Government authorit~es on such

matters

A.V. Dhond (1999)~' remarks that small scale industries are best suited

for a developing country like lndia for solving the problems Of unemployment

and capital formation. He reports that small scale industries in lndia account for

95 per cent of total industrial units, 80 per cent of industrial work force, 50 per

cent of turnover of manufacturing sector and 36 per cent of total exports. He

requests the banks and Government departments to increase the support to

SSI units by evolving new mechanism to deal with dues by SSI units.

Sufficient literature on Prime Minister's Rozgar Yojana is not available to make a critical analysis of the scheme. The available literature on the subject is often b~ased and covers some mlcro aspects of PMRY Scheme.

A thorough analysis of these studies reveal that implementing agencies

under the Government sponsored developmental schemes have not made

much contribution towards the success of the schemes. Moreover most of the

commercial banks engaged in financing the sponsored developmental schemes

provided loans only because they are under compulsion or obligation. The

review of these literatures also throws light to the fact that most of the banks

have not achieved their targets under the schemes. Therefore, there is ample

scope for the study on the different aspects of the PMRY Scheme in Kerala.

The PMRY Scheme is implemented to generate employment

opportunities by setting up micro enterprises. There is good scope for research

on the problems and ~mpact of the PMRY scheme in a highly literate state like

Kerala. This study IS also important because the analysis of the available

literature reveals that the schoiars have not made any attempt to analyse the

employment generatea by the PMRY Units. This study aims at analyzing the

role of PMRY units in generating employment in the State of Kerala, mode of

lending and utilization of funds by the beneficiaries, attitude of the PMRY

beneficiaries towards the banking services, experience of the banks and

beneficiaries in the implementation of the scheme. The weakness of the

existing machinery n the implementation of the scheme should also be

examined and necessary steps should be taken to rectify them.

FOOT NOTES

1 josh^, P.N. "Financ~ng of Priority Sectors by Commercial Banks," The

Journal of the IndIan /nstItute of Bankers, Vol. XLlll ( I ) , January-March 1972, pp. 27-34.

' Oomen M A., "The Pattern of Financing Small-scale Industries in Kerala.' The Journal of the Indian Institute of Bankers, Vol. XLlll (3 ) , July- September 1972, p.329.

" Purohit, M.C.. "Small Artisans and Potential for Bank Financing," Prajnan, Vol. II ( I ) , January-March 1973, pp.83-92.

" Namblar P 12 D., "Financing of Priority Sectors," State Bank of India Monthly Rev~ew, Vol XVI (12). December 1977, pp.447-453. .

5 Shetty, S.L., "Performance of Commercial Banks since Nationalisation of Major Banks-Promise and Reality," Economic and Political Weekly, Special number, Vol. Xlll (31, 32, 33), August 1978, pp. 1407-1451

Patel I.G., ,.Indian Banking During the Coming Decade," Reserve Bank of lndia Bulletin, Vo l XXXlll (11). November 1979, pp. 767-772.

Singh and Balraj, "Perceived Advantage of Taking Loans From Banks and Suggestion for Improvement," The Banker, Vol. XXVl ( lo), December 1979, p. 24.

a D'Mello, L . "Bank Credit for Weaker Sections : Performance and Prospects." The Journal of the lndian Institute of Bankers, Vol. LI (2), April-June 1980, pp. 87-95.

9 Kheman~, C. L.. and Balakrishnan, K. V., "Financing of Weaker Sections - Importance of Consumption Credit," State Bank of lndian Monthly Review, Vol. XXI (8). ,4ugust 1981, p. 348.

1 0 Dinkar Rao K., Lead Bank Scheme; Retrospect and Prospects", Prajnan, Vol. X I No.4. October-December, 1982

1 1 Sarkar, B K., "Banks Marketing for the Target Groups in the Priority Sector," Prajnan, Vol XI1 (4), October-December 1983, pp. 315-325.

'' Patel, A. R , '.Twelve Years of Differential Rate of Interest Scheme : An Assessment " The Journal of the lndian Institute of Bankers, Vol. LV ( I ) , January-March, 1984, pp 24-35

13 Balishter and Roshan Singh, "IRDP-Financed by State Bank of lndia in Bichpuri Block of Agra Distr~ct," F~nancing Agriculture, Vol. XVI (3). July- September 1984, p 16

14 Satya Sundaram, I , "Pr~ority Sector Lending: Problems and Remed~es," The Journal of the lndian Institute of Bankers. Vol. LV ( I ) , January-March 1984. pp. 16-23

15 Raut, "A Study on the Scope and Problems of Financing Tribal Farm Development by Land Development Banks, " Land Bank Journal, Vol. XXll (3), March 1984, p, 57.

16. Rai Kishore Pande (1965) "A study into the borrowing and utilisation among the fakmers in Puri district"; Financing ~ ~ r i c u l t u r e , ~01.17 (2), April-June 1985.

17 Ramesh Chand and Sidhu (1985) "Charateristics of defaulters of agricultural credit in Punjab - A discriminant function approach". Land Bank Journal. Vo1.23 (3), March 1985.

18 Viswanathan 5. S. "Rural Co-operative Credit," Land Bank Journal, Vol. XXlV (9). September 1985, p. 4.

19 Khankhoje, D. P. and Godse, V. T., "Systems and Procedures in Priority Sector Lending," Prajnan, Vol. XIV (4). October-December 1985, pp. 393-404

20 Satya Sundaram, I., "A fresh look at the DIR Scheme," Facts for you, Vol. Vlll (3), Segtember 1986, pp 23-26.

21 Malhotra R.N., "The Role of Banking in Rural Development," Reserve Bank of lndia Bulletin. Vol XL (9), September 1986. pp. 556-563.

22 Dangat, S E 1 , Radkar, S . R and Dhongade, M. P., "Mirco Level Study into the Borrow~ngs and Utilization of Medium and Long-term Loans in Ahmednagar D~strict," L.and Bank Journal, Vol. XXlV (3) , March 1986, p. 13.

23 Ramachandran Rao, 6. . .'Priority Sector Advances-Evolution and ~Monitor~ng," The Journal of ihe Indian 117stitiite of Bankers, Vol. LVlll ( 3 ) , July-September 1987, pp. 132-135, 141

24 Economic Research Department of the State Bank of lndia, Central Office, Bombay. "Impact of Bank Credit on Weaker Sections in Kerala," State Bank of lndia Monthly Review, Vol. XXVl (9), September 1987, p. 444-458.

Z5 Malhotra, H C. and Kulshrestha, D K.. "Banking for Weaker Sections. ' Agricultural Banker. Voi X (4). October-December 1987, pp. 22-27.

26 Ojha, P. D . "Banking and Economic Development in lndia. Problems and Prospects,'' Reserve Bank of lndia Bulletin. Vol. XLI ( I ) , January 1987, pp

27. Rangarajan, C.. "Central Banking and Economic Development Indian Experience," Reserve Bank of lndia Bulletin. Vol. XLll (a), August 1988, pp. 645-648.

2 8 . Muhammad Yunus 'The Poor As the Engine of Development" Economic Impact, N O 63, 1999. pp 27-31.

". Majumdar, N. H., "Credit Support to Priority Sectors A Macro Prespective," Economic and Political Weekly, Vol. XXXll 1 (4), January 24, 1998, pp. 147-150.

30 Muniraj. R.. "Improving Recovery Performance through Effective Financing of Agriculture," Agricultural Banker, Vol. XI (2) April-June 1988, pp. 12-20

:) 1 Arnmannaya, K K , "Bank Credit and Growth Strategy - Some Issues," lndian Bank~ng Today and Tomorrow, Vol. XIV (9), September 1989, PP 2-9

32 Sarma, U K., "Role of Banks in Rural Development," Resen/e Bank of lndia Bulletin. Vol XLlll ( I ) , January 1989, pp. 33136.

33. Manmohan Singh Gill, "Weaker Sections and Credit Facilities: An Analysis of Delivery System." Prajnan, Vol. XIX (4), October- December 1990, pp. 395-432.

34 Kalra, S S . "Menace of Overdues." The Banker, Vol. XXXVll (2), April 1990, pp 25-3 1.

35 Bansal, S N. and Agarwal, V. K., "Why World Bank is Against Priority Sector Lending?" Kurukshetra, Vol XXXlX (12), September 1991, pp. 28-32, 37

36 All. Mohammed lqbal and Krisnamachary, P., "New Dimensions in the Flow of Institutional Credit - A Micro Level Study," Agricultural Banker, Vol. XV, April - June 1992, p 8

3 7 Toor, N. S , "Banks Finance for SSI: Need for New Approach," The Banker, Vol XL (6). August 20, 1993, pp. 20-23.

" Dhond, A Id.. "Role of Commercial Banks in the Development of Small-scale 1ndustr.ial Sector," IBA Bulletin, Vol. XVI (12), December 1994, pp. 35-38.

39 Patel. A. R. "Cred~t to the Farm Sector : Need for New Initiatives," IBA Bullettin, Vol. XVlll (6), June 1996, pp. 13-15.

4 0 Dr.Jayamani C.V. and Varghese K. John, "Prime Minister's Rozgar Yojana a micro study", Kurukshetra. Vol XLV (10) July 1997, pp 50-52.

Sarda D.P., "Recovery of dues under government sponsored schemes"" Prajnan, Vol XXVll (3) July-September 1998.

42 Dhond A.V. "In the Aftermath of Nayak Committee". Central Bank of India, Economic Bullettin, Vo1.19, No.2, February 1999.