i've always contended that indian banks were nationalized to provide jobs to upper caste indians. that's the real priority sector. among all public sector employers, indian banks have the poorest record of compliance with reservation norms. the dalits and adivasis constitute less than 5% of all bank employees. the obcs, of course, would be much lower than that because the banks started shedding weight when mandal was brought in. tomorrow, if all these banks were to disappear, not one single truly marginalized individual in the country will really miss them.
why should they? those banks have never lent more than 10% of their total credit advances to the farmers, and most of those farmers were from the same social strata as the bankers, naturally. and when people from those same social strata tried to move into new, non-agricultural vocations, indian banks played a pivotal role in financing this transition. most of the other recipients of priority or directed credit, like entrepreneurs running small scale industrial units etc., were also from the same social strata.
85% of indians still do not have bank accounts: get that into your heads, progressive india.