Rs. 546-cr. credit plan for Kodagu district

MADIKERI, MARCH 17. The annual credit plan for Kodagu with an outlay of Rs. 546.75 crores for 2005-06 was released by the Chief Executive Officer of the Kodagu Zilla Panchayat, K. Sundar Naik, at the lead bank (Corporation Bank) here on Thursday.

The plan size marks a 26 per cent (Rs. 113 crores) increase compared to the previous year's outlay, the lead bank manager, H.Y. Abhinandan, said.

A sum of Rs. 445.52 crores will go to the priority sector while Rs. 101.23 crores has been allocated for the non-priority sector. In the priority sector, the bulk of the allocation (Rs. 387.07 crores) has been earmarked for agriculture and allied sectors. Of this, Rs. 141.29 crores will go to the Madikeri block, Rs. 151.47 crores to the Virajpet block and Rs. 94.31 crores to the Somwarpet block.

An amount of Rs. 54.53 crores has been earmarked for trade, services and other areas in the priority sector. Of this, Rs. 21.65 crores will go to the Madikeri block, Rs. 17.40 crores to the Virajpet block and Rs. 15.48 crores to the Somwarpet block.

In all, in the priority sector, Madikeri block will get Rs. 164.69 crores, the Virajpet block Rs. 170.28 crores and the Somwarpet block Rs. 110.55 crores.

Non-priority sector

In the non-priority sector, Madikeri block will get Rs. 31.31 crores, Virajpet Rs. 53.78 crores and Somwarpet block Rs. 16.14 crores.

Among banks, Kodagu District Cooperative Central Bank has come up with the highest allocation of Rs. 193.23 crores followed by Canara Bank (Rs. 114.30 crores), Corporation Bank (Rs. 73.60 crores), the State Bank of India (Rs. 35.09 crores) and Vijaya Bank (Rs. 32.40 crores). As many as 126 branches of 18 banks in Kodagu and the Karnataka State Financial Corporation have participated in the annual district credit plan.

As much as 61 per cent of the allocation will come from commercial banks and 36 per cent from cooperative banks. The share of regional rural banks is three per cent and the KSFC will lend Rs. 1 crore.

`Assist programmes'

Speaking after releasing the credit plan, Mr. Sundar Naik said banks should assist government programmes by giving loans to the needy.

Mr. Naik called upon government departments and bankers to coordinate their activities for the benefit of the people. He laid stress on financing the floriculture sector in which Kodagu has good potential. Stree Shakti groups and self-help groups can be involved in the process, he added.

The Assistant General Manager of Corporation Bank, Muralidhar Kamat, welcomed the gathering.

The Assistant General Manager of the National Bank for Agriculture and Rural Development, A.L. Kulkarni, and officers of government departm ents were present.

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