A potential-linked credit plan prepared by NABARD envisages priority sector lending to the tune of ₹22,075 crore in 2024-25 in the district. The target for the agriculture sector is ₹8,602 crore. Deputy Collector V. Jayamohan released the credit plan at a meeting of the District Consultative Committee for Banking Development held here on Friday. Banks carry out priority sector lending on the basis of this document.
It was reported at the meeting that banks in the district had disbursed ₹13,482 crore as priority sector loans till September in the 2023-24 fiscal. Of this, ₹7,426 crore was disbursed in the agriculture sector and ₹5,578 crore in the MSME sector. As on September 30, bank deposits in the district stood at ₹1,16,238 crore and advances, ₹88,913 crore. The credit-deposit ratio is 76%.
G.V. Dayal Prasad, Chief Regional Manager, Indian Overseas Bank, and convener of the district-level review committee; Syam Sunder, Lead District Officer, Reserve Bank of India; Minu Anwar, District Development Manager; S. Jayamohan, Lead District Manager, heads of various development departments, bank executives and financial literacy counsellors attended the review.
