It is expected to cover 4.36 lakh beneficiaries
The District Credit Plan for Mysore for 2013-14 envisages an outlay of Rs. 4,692.6 crore, an increase of Rs. 835.78 crore (21.67 per cent) over the current financial year’s (2012-13) outlay.
The credit plan prepared by State Bank of Mysore, the Lead Bank of the district, was released by Deputy Commissioner C. Shikha here on Thursday.
The plan is expected to cover 4.36 lakh beneficiaries and the priority sector, comprising agriculture and allied activities, self employment, education and housing, accounts for Rs. 3,802.6 crore. Out of this, agriculture has been apportioned Rs. 1,736.4 crore.
The priority sector has received a special thrust this year and there is an increase of Rs. 678.98 crore (21.73 per cent) over the previous year’s outlay.
The projection for the non-priority sector is Rs. 890 crore against Rs. 733 crore for 2012-13. Minor irrigation has received an outlay of Rs. 34.08 crore while land development has got Rs. 79.5 crore. Farm mechanisation has received a share of Rs. 56.72 crore while animal husbandry and allied activities have been earmarked Rs. 119.47 crore.
Of the Rs. 4,692.6-crore outlay for the district, Mysore taluk, including Mysore urban, has received Rs. 1840.05 crore, Hunsur taluk – Rs. 537.38 crore, H.D. Kote – Rs. 410.8 crore, K.R. Nagar – Rs. 390.76 crore, Nanjangud – Rs. 412.6 crore, Periyapatna – Rs. 734.92 crore and T. Narsipur has been allocated Rs. 368.09 crore.
Private banks such as ICICI Bank, HDFC Bank and Axis Bank have also participated in the plan exercise in the district.
The SBM has been given a lending target of Rs. 1,150 crore while the State Bank of India has a lending target of Rs. 1,064 crore. Among other banks, the lending target for Canara Bank is Rs. 313 crore, SyndicateBank – Rs. 175 crore, and Mysore District Credit Cooperative Bank – Rs. 293 crore.
K. Lakshmisha, general manager and group executive (Agri and MSME), SBM, Head Office, Bangalore, who delivered the keynote address, pointed out that the credit plan reflected the aspirations of the banking sector to contribute to the development of economy of the district and take active part in the efforts of the government and development institutions in the areas of agriculture and other rural development activities, self-employment generation and poverty alleviation.
Noting that the SBM had projected a lending programme of Rs. 1,150 crore under the priority sector, Mr. Lakshmisha said this accounted for 30.24 per cent of the total priority sector plan of the district. The plan had projected Rs. 1,360.40 crore towards crop loan for 2013-14, he said.
Striking a note of caution, he drew attention to the decline in recovery of dues by banks. Mounting non-performing assets would affect accelerated lending and the wheels of bank credit could be kept moving only with timely repayment by borrowers, he said. In this context, the repayment track record of self-help groups came in for high praise.
Referring to the Direct Benefit Transfer (DBT) scheme launched by the Union government, Mr. Lakshmisha said all the 35,069 beneficiaries had been provided with bank accounts and government departments had furnished a list of 19,431 beneficiaries for seeding Aadhaar numbers with their respective bank accounts. Of these, 13,421 accounts had been seeded so far, he said.
M.B. Chinnappa, chief manager, SBM; P. Balakishan, deputy general manager, SBM, Zonal Office, Mysore; N.D. Prakash, chief executive officer (in charge), Mysore Zilla Panchayat; N. Aravamudhan, AGM, NABARD, and R. Balakrishnan, AGM, RBI, were present among those present.
The outlay for 2013-14 is up by 21.67 p.c. over the current financial year’s lending target Priority sector accounts for Rs. 3,802.6 crore
The outlay for 2013-14 is up by 21.67 p.c. over the current financial year’s lending target
Priority sector accounts for Rs. 3,802.6 crore