Why should India’s largest banks fall short of their priority sector lending targets? By law they are required to lend 40% of their net credit to the priority sector. Even the State Bank of India fell short of its target in 2005-06. As a group, the public-sector banks failed to meet the sub-targets for agriculture and weaker sections in that year. None of the private-sector banks (barring Ganesh Bank of Kurundwad) met the subtargets for agriculture and weaker sections either.