Economics · Economy

Consider the following regulatory statements regarding RBI's Priority Sector Lending (PSL) rules for NBFCs and agricultural lending: Statement 1: Loans to individual farmers who are already engaged in agriculture and allied activities, for the purpose of purchasing land for agricultural purposes, are eligible for priority sector classification under the Agriculture - Direct Finance sub-category. Statement 2: The maximum loan amount for land purchase by a small or marginal farmer to be eligible for priority sector status is 10 lakh. Statement 3: Bank loans to registered NBFCs (other than MFIs) for on-lending to the agriculture sector are eligible for priority sector classification up to a limit of 10 lakh per individual borrower. Statement 4: For on-lending to the MSME sector, bank loans to NBFCs are eligible for PSL status up to a limit of 20 lakh per individual borrower. Statement 5: The total bank credit to NBFCs for on-lending to various sectors (Agriculture, MSME, and Housing) cannot exceed 5 percent of the bank's total priority sector lending. Statement 6: For on-lending to the housing sector, bank loans to NBFCs are eligible for PSL status up to a limit of 20 lakh per individual borrower. Statement 7: Loans to joint liability groups (JLGs) of farmers for agricultural activities are considered as part of the 18 percent target for Agriculture. Which of the following describes the validity of these statements?