Power crisis hits hard industry and agriculture sector
Lending to priority sectors is sluggish in Tirupur district, owing to poor off-take of credit in textile and farm sectors, and the figures are looking poised to fall short of the Annual Credit Plan targets set for 2012-13 financial year.
Banks lending to agriculture, micro and small enterprises and weaker sections of society are classified as priority sector lending with its overall share in the total loan portfolio been computed against the adjusted net bank credit (ANBC).
In the case of Tirupur, the overall priority sector lending stood at 74 per cent of the ‘proportional Annual Credit Plan (ACP)’ targets for the first half of the current fiscal with the credit flow not showing much improvement during the just ended third quarter of the fiscal too due to power crisis hitting industry and farm sector.
“It means that the lending to priority sector in all probability might be falling short of the targets set for the current fiscal,” District Consultative Committee for Banking Development sources told The Hindu .
Statistics obtained from Lead bank sources revealed that the performance of the district in the priority sector lending segment was second lowest in the state in percentage terms to the proportional ACP targets during the first half of the current fiscal.
“We have been ahead only of Tuticorin district, which recorded 61 percent in priority sector lending segment against the proportional targets for the first half of the fiscal,” sources said.
Of the priority sectors, lending to agriculture in Tirupur district during the first half of the fiscal stood at 75 per cent of the proportional ACP targets, with the performances in non-farm sector (NFS) and other priority sectors (OPS) at 71 per cent and 90 per cent, respectively.