The Lead Bank has released the annual credit plan (ACP) for the district for 2015-16, with a proposal to disburse loans worth Rs. 4,791 crore across various sectors.
District Manager of Lead Bank R.R. Patil told The Hindu that a sum of Rs. 4,491.96 crore had been earmarked for priority sector, comprising Rs. 2,686.24 crore for agricultural activities, Rs. 300.23 crore for non-agricultural activities, Rs. 1,505.49 crore for other priority sectors like housing and education. The Lead Bank also plans to provide loans worth Rs. 299.75 crore as to non-priority sector during this fiscal, he said.
The lending for priority sector forms 94 per cent of the total plan outlay. The commercial banks are expected to lend Rs. 3,560.14 crore as credit, Regional Rural Banks Rs. 253.96 crore, cooperative banks Rs. 664.06 crore and the lending from Karnataka State Finance Corporation will be Rs. 13.8 crore.
The total plan outlay for 2014-15 was Rs. 4,166.55 crore. There has been an increase of Rs. 626.16 crore in the outlay for 2015-16. Mr. Patil said that although arecanut was a major crop in the district, the weather of Malnad region was also conducive for floriculture and cultivation of medicinal plants.
Lending for horticulture sector during this period has been projected at Rs. 137.95 crore.
The banks would be directed to ensure access to credit facilities for farmers for the construction of polyhouse and greenhouse for floriculture, cultivation of vegetables and medicinal plants.
In addition, entrepreneurs willing set up cold storage units would be encouraged, he said.
Proposal is to advance Rs. 4,791 crore as loan across various sectors
