SLBC pegs credit outlay at ₹3,599 crore

Annual target: PWD Minister K. Lakshminarayanan releasing the booklet on the Annual Credit Plan at a review meeting of the State-level Bankers' Committee.  

The State-level Bankers Committee (SLBC) has proposed an ₹3,599.41 crore Annual Credit Plan for 2021-22 for the Union Territory of Puducherry as against the previous year’s plan of ₹3,281.86 crore.

The Annual Credit Plan outlay, tabled at the quarterly review meeting of the State-level Bankers’ Committee, represents an increase of ₹317.55 crore over the plan outlay for 2020-21. In percentage terms, it works out to 9.68% growth rate.

Over 70% of the total outlay has been allocated for agriculture and the MSME sector.

The outlay for agriculture has increased by 8.15% and is projected at ₹1,842.1 crore, accounting for 51.18% of the total outlay for 2021-22.

The MSME sector has been earmarked ₹820 crore, accounting for a share of 22.78% of the total outlay.

Allocation has been made for export credit at ₹40 crore, educational loans at ₹80 crore, housing loans at ₹220 crore, renewable energy at ₹20 crore, social infrastructure at ₹150 crore and sectors forming part of SHGs have been allotted ₹350 crore.

Addressing the SLBC’s quarterly meet for release of the Annual Credit Plan and review of the performance of banks for the quarter ended June 2021, V. Shenoy Vishwanath, SLBC chairman, noted that year-on-year banks in the Union Territory were surpassing the annual credit plan targets.

Mr. Vishwanath, who is the Executive Director of Indian Bank, requested banks to continue the same in future also for the development of the State. He also appreciated the bankers for the good work done during the COVID-19 pandemic.

K. Lakshminarayanan, Minister for Public Works, released the plan booklet.

In his special address, the Minister appreciated all the bankers for their achievement in various sectors and requested the banks to actively participate in the development of agriculture, MSME, tourism and infrastructure projects in the Union Territory.

‘Lend more’

He also requested the bankers to lend more to farmers, dairy, students and women SHGs as this would improve the income of small entrepreneurs and also help in overcoming the crisis caused by COVID-19 lockdowns.

Suman Ray, Chief General Manager, RBI, Chennai; T. Venkatakrishna, Chief General Manager, NABARD; Chennai, A.S.P.S. Ravi Prakash, Secretary (Rural Development); E. Vallavan, Secretary (Industries); and G. Rajeswara Reddy, Field General Manager, Indian Bank, Chennai, also addressed the meeting.

S. Senthil Kumar, zonal manager and convener of the SLBC, Indian Bank, Puducherry, presented the agenda items for discussion in the SLBC.

B. Suribabu, General Manager, Indian Bank, corporate office, Chennai; Margaret Laetitia, chairperson, PBGB, head office, Puducherry; Rishita Gupta, Sub-Collector (South); P. Ananda Babu, deputy zonal manager; A. Udayakumar, lead district manager; executives and officials from banks and senior officials from the administration participated in the meeting.

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Printable version | Sep 25, 2021 3:22:01 AM | https://www.thehindu.com/news/cities/puducherry/slbc-pegs-credit-outlay-at-3599-crore/article35617683.ece

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