The priority sector obligation will probably be necessary for some more time in a developing country like ours, though we need to deliberate more on what sectors should constitute priority as the economy develops. But even without entering this potentially contentious debate, can we allow banks to fulfil existing norms more efficiently?
For instance, if one bank  BIS central bankers’ speeches  3  is more efficient at rural lending, can it over-achieve its obligations and then “sell” its excess to another bank that is an underachiever? We are examining such possibilities. Finally, we have had only limited success in achieving inclusion when it is seen as a mandate.