The State Level Bankers’ Committee (SLBC), Telangana, has unveiled an annual credit plan with an outlay of ₹2,14,041.87 crore for 2022-23, an increase of 15% over the previous fiscal’s ₹186,035.60 crore plan.
Priority sector lending target for this fiscal has been pegged at ₹1,66,257.93 crore or 77.68% of the total outlay. Compared to previous year’s priority sector target of ₹1,44,354.06 crore, this is an increase of 15%, said SLBC president and SBI Hyderabad Circle Chief General Manager Amit Jhingran while presenting highlights of the plan at its launch here on Tuesday in the presence of State Finance Secretary T.K.Sreedevi and senior bankers.
For agriculture segment, the SLBC has pegged the lending at ₹101,030.04 crore or nearly 61% of the priority sector target. Of the agriculture target, investment credit, for creating sustainable income for the farmers, is projected to be ₹33,165.16 crore.
Figuring next is MSME segment with an outlay of ₹49,874.94 crore or 30% of the priority sector lending target.
On the performance for the quarter ended March, which was reviewed at the meeting, SLBC said total advances increased by ₹1,05,292.33 crore (16.79%) during the year. Advances of all banks stood at ₹7,32,332.18 crore.
Total deposits of the banks at ₹60,616.07 crore was 10.60% more than the previous fiscal. Total deposits stood at ₹6,32,525.25 crore. The CD ratio as on March 31 improved to 115.78% (109.64%).
79% target met
Banks together disbursed ₹112,965.92 crore to borrowers under Priority Sector thus meeting 78.26% of last fiscal’s annual target. They lent ₹42,853.62 crore crop loan (for both Kharif and Rabi). Term loans towards investment credit, under different heads, totalled ₹17,535.59 crore.
Disbursements to micro, small and medium enterprises (MSME) segment stood at ₹45,105.33 crore or 114.59% of the target. Under Pradhan Manthri Mudra Yojana Scheme, banks disbursed Rs.6,167 crore as against a target of ₹6,895 crore thus achieving 89.43% of the annual target, SLBC Convenor and SBI General Manager Krishan Sharma said in a release.
