At the time of Independence, the share of commercial banks in agricultural credit was very less. It was only 0.9 per cent in 1950^51. In order to increase the contribution of commercial banks in agricultural credit, 14 major banks were nationalized in 1969. In 1980,6 more commercial Banks were nationalized. Along with this, these banks were directed that they would provide 40% of their total loans to primary sectors, such as-Agriculture, small scale industries, small businesses, etc. In the year 2013-14, their contribution in agricultural credit was 71.50%.
