PL-480 Funds-Whose Ark for the Deluga

"hitherto neglected sectors", again, the record of the government-owned banks has not been startlingly different from that of the private sector banks. A weightier objection to the refrain about the growth of advances to these sectors is that, the way they are now defined, not all of them can jnstifiably lay claim to any priority in the use of hank credit; thus, for instance, in what way can all retail trade or all tran-sport operators or all small industries, irrespective of the products manufactured by them, lay prior claim to hank funds? Reflecting the same lack of planning at another level, while hanks have been urged to go into financing of agriculture, the deadlock between commercial hanks and the cooperative credit structure in the rural areas remains unresolved. Here again, the fact of the hanks nationalised in 1969 plus the State Bank of India being government-owned has made not the slightest difference.