Mangaluru

Dakshina Kannada credit plan pegged at ₹18,000 crore

Member of Parliament Nalin Kumar Kateel releasing the District Credit Plan for 2020-21 at a meeting in Mangaluru.

Member of Parliament Nalin Kumar Kateel releasing the District Credit Plan for 2020-21 at a meeting in Mangaluru.  

Member of Parliament Nalin Kumar Kateel has released the District Credit Plan for 2020-21 with a credit outlay of ₹ 18,000 crore that included priority sector lending of ₹ 13,399 crore.

Among the priority sector, agriculture was given a target of ₹ 7,498 crore, MSMEs ₹ 3,716 crore, Housing ₹ 1,300 crore and education ₹ 154 crore.

These targets were allotted to all nationalised banks, commercial banks, cooperative banks and the regional rural bank in Dakshina Kannada based on their performance and potential.

Though the total banking business the previous financial year stood at ₹ 77,049.96 crore with a growth of 4.17 %, the priority sector lending (₹ 28,209.88 crore) during the period showed a negative growth of 1.28% year-on-year. Deposits stood at ₹ 48,840 crore as on March 31, 2020, indicating a growth of 7.61 % year on year.

Credit to deposit ratio stood at 57.76 %, a decrease of 5.2 % from the corresponding credit to deposit ratio of 62.96 % as on March 31, 2019.

However, achievements under agriculture, education and housing by banks in the district were above the State-level achievements.

Zilla Panchayat Chief Executive Officer R. Selvamani, Canara Bank General Manager Yogish Acharya, NABARD Deputy Regional Manager S. Ramesh, District Lead Bank Manager M.P. Praveen and others were present.

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Printable version | Aug 13, 2020 6:00:41 PM | https://www.thehindu.com/news/cities/Mangalore/dakshina-kannada-credit-plan-pegged-at-18000-crore/article31940923.ece

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