How have Government Policies Driven Rural Credit in India: A Brief Empirical Analysis, 1969-2009
This paper makes a modest attempt to identify structural breaks in outstanding credit of rural branches of Scheduled Commercial Banks in India during the period of 1969 to 2009. With the use of endogenous method, we find three possible structural shifts in growth, i.e. 1981, 1989 and 1999 and thus four different regimes of growth and performance. These structural changes are analyzed with respect to branch licensing policy and priority sector lending by the Schedule Commercial Banks. Empirical evidence and growth performance shows that such policies have been instrumental in changing the off-take of rural credit in a significant way. The study also finds corroborative evidence of break dates and growth performance in evaluating the outcomes of the prevailing banking policies.
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