The State Bank of India, which is the lead bank of Medak district, has approved district credit plan at an estimated amount of Rs. 4,437.65 crore.
The plan was released by the district Collector, Rahul Bojja, recently.
For the crop loans, the amount was increased from the target of Rs.1,758 crore to Rs. 1,997.25 crore. Crop loan target for kharif-2015 was fixed as Rs.1,248.28 crore and for rabi the target was Rs.748.97 crore. Similarly, non-priority sector allocation was hiked from the existing Rs. 432 crore to Rs. 518.4 crore.
Total hike proposed in the credit plan was Rs. 325.65 crore compared with the previous year’s allocation of Rs. 4,112 crore.
However, the achievement in priority sector was put at 81.92 per cent with a spending of Rs. 3,368 crore. While the achievement in priority sector was 77.82 per cent with Rs. 2,863.71 crore against the target of Rs.3,680 crore, in non- priority sector, the target achieved was 116.8 per cent with Rs. 504.69 crore against the target of Rs.432 crore.
In the crop loans, the banks were able to surpass the target. As against the target of Rs.1,758 crore the banks distributed extended loans to the tune of Rs. 1,840.66 crore thereby achieving 104.7 per cent. Similarly, in extending loans to the self help groups (SHGs) the banks were able to reach only Rs. 70.39 crore. They extended only Rs 410.39 crore against the target of Rs.583 crore.
Coming to allied activities, the situation was even worse. They achieved only 19.7 per cent by sanctioning loans to the tune of Rs. 29.69 crore as against the target of Rs. 151 crore. In non-farms sector the target achieved was 42.03 per cent with extending loans to the tune of Rs.263.1 crore as against Rs.626 crore.
