Annual credit plan focuses on agriculture and allied activities

The target under Annual Credit Plan (ACP) for the financial year 2022-23 by banks in Tiruchi District has been fixed at ₹10,839.86 crore.

The ACP is synchronized with the Potential Linked Credit Plan of the National Bank for Agriculture and Rural Development (NABARD).

S. Sivarasu, Collector, who is also the Chairman of the Bankers’ Committee, released the document at its meeting here on Thursday. K. Velayutham, Chief Regional Manager, Indian Overseas Bank, Tiruchi, received the first copy. The Annual Credit Plan has been designed by taking inputs required for planning the credit targets by the banks for 2022-23. The total ACP, which is worked out at ₹10,839.86 crores, is 7.42 % higher over the previous year.

Out of the total outlay of ₹10,839.86 crores, an amount of ₹6,068.70 crores has been allocated for agriculture and allied activities, ₹1,821.45 crore for Micro Small and Medium Enterprises (MSME), ₹450.48 crore for Education and ₹1,441.90 crore for Housing.

Mr. Sivarasu asked the banks to allocate more targets towards medium and long-term credit in agriculture, Self Help Groups and MSME loans. He also urged the banks to focus on the various credit related measures announced by the governments.

Project Director, Mahalir Thittam, Ramesh Kumar, Assistant General Manager of the Reserve Bank of India S. Kumaran, DDM, NABARD, N.M. Mohan Karthik, Lead District Manager S Satheswaran and Lead Bank Officer T..B..Muralidharan took part.

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Printable version | Jun 9, 2022 11:07:38 pm | https://www.thehindu.com/news/cities/Tiruchirapalli/annual-credit-plan-focuses-on-agriculture-and-allied-activities/article65464202.ece