A sudden spurt in the disbursal of advances to priority sectors between January and March has helped the just concluded 2016-17 financial year end on a happy note in Tirupur.
Data obtained from the banking sector shows that the credit disbursals had exceeded the credit plan targets for agriculture, MSME, and other priority sectors though it was below the ‘proportional credit plan targets’ in December.
During the 2016-17, the overall credit disbursement to priority sectors stood at ₹ 8,917 crore as against the plan target of ₹ 8,756 crore.
The credit flow to agriculture sector was ₹ 2,595 crore as against the target of ₹ 2,564 crore and to MSME sector was ₹ 5,541 crore as against the target of ₹ 5,434 crore.
The other priority sectors covering, education, housing, social infrastructure and renewable energy, among others, witnessed a credit flow of ₹ 781 crore in 2016-17 fiscal against a projection of ₹ 758 crore.
Lead District Manager S. Sundaramoorthy said that the increase in credit flow in the fourth quarter was because of gold loans, and an increase in garment export trade.
