Annual credit plan for Tiruppur launched

August 28, 2020 11:12 pm | Updated 11:12 pm IST - Tiruppur

District Collector K. Vijayakarthikeyan launched the annual credit plan for the year 2020-21 on Friday, which proposed a total credit flow of ₹12,522 crore by the banks to priority sectors.

The Micro, Small and Medium Enterprises (MSMEs) will receive the maximum share - ₹7,435 crore or 59.38% of the total outlay - and agriculture and allied activities will receive ₹3,349 crore (26.74%) this year. Other priority sectors including non-renewable energy, housing and education will receive the rest 13.88% of the total credit disbursement, which is ₹1,738 crore, a release said.

The credit disbursement target is ₹485.90 crore more than that of the previous year, where the target was ₹12,036.10 crore.

Deputy General Manager of Canara Bank Regional Office, Tiruppur K.K. Harinarayana received the first copy of the annual credit plan.

Lead District Manager T. Alexander, Project Director of Tamil Nadu State Rural Livelihoods Mission R. Komahan and Assistant General Manager of National Bank for Agriculture and Rural Development E. Raju were among the officials who participated, according to the release.

The annual credit plan was developed based on NABARD’s Potential Linked Credit Plan, the bank’s performance and infrastructure available in Tiruppur district.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.