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.
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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.
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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.