Annual credit plan was lauched by hon’ble Chief Secretary, GoK along with other degnitieries Viz., Smt. Vandita Sharma, ACS & DC, GoK, Shri. Jose J Kattoor, Regional Director, Reserve Bank of India, Shri Niraj Kumar Verma, Chief General Manager, NABARD.
SLBC convener Sri. Chandrashekara Rao detailed the State ACP target set for year 2021-22 as here below.
Total State ACP outlay has been increased from Rs.3,65,556 crores of 20-21 to Rs.4,96,371 crores i.e. increase of 35.78 %.
Total Priority Sector Credit works out to 2,92,391.90 Cr and the overall growth rate comes to 14.24 % over the previous year’s targets of 2,55,940.
Share of Agriculture Credit works out to 1,25,992.10 Cr., constituting 43.09 % of total priority Sector Credit.
Share of Crop Production Credit is 71,923.31 Cr forming 57.09 % of total Agriculture Credit.
The share of MSME is 1,11,826.96 Cr., Education Loan is 5,969.86Cr., Housing Loan is ₹30,164.89 Cr., & Other sectors 9498.22Cr. constituting 38.24%, 2.04 %, 10.31 %, 3.24 %, of total Priority sector, respectively.
Executive Director of Canara Bank Ms. Manimekhalai has delivered key note address wherein she touched upon important agenda items.
She has expressed that, COVID 19 which was for some time has back with new variant and country is in the verge of one more uncertainty. As the country cannot afford one more lockdown we have to be more and more careful, should take all precautionary measures and continue to observe all covid health protocols.
As the nascent economic recovery is being challenged by second wave of covid, there is an urgent on the part of all stake holders to put in concerted efforts for SURVIVAL & REVIVAL of economy.
Having provided the immediate relief to the vulnerable and affected segments, GOI has come out with many schemes to rebuild our economy at the earliest with the help of State Government, RBI and NABARD thro’ schemes like Agriculture Infrastructure fund, Coverage of 10,000 FPOs, Formalization of Micro food processing Enterprises (FME) with ODOP-One District One Product concept, PMSvanidhi and ECGLS -1, 2, 3.
Banks in the state, despite various issues, have made considerable progress in extending relief measures, as a result of which state has been in forefront in case of KCC-Dairy and Mudra sanctions with 1st rank and secured 5th position in case of PMSvanidhi scheme by crossing a milestone of more than one lakh disbursements amounting Rs.105.15 crore.
PMAY-AHP scheme, as reviewed by Honorable Chief Minister, needs to be taken further forward where banks have already issued in-principle sanction letters / consent letters for1,01,618 dwelling units for ongoing & upcoming projects. In this regard I appreciate the untiring efforts of ACS & DC madam. Under PMAY-CLSS banks in the state have disbursed 97,174 loans so far.
The state as a whole has achieved 80.62% of ACP under MSME, 77.97% under Agriculture and 102.27% under total credit at the end of the third quarter.
There is a Y-o-Y growth of 13.84% in deposits and 9.70% in advances as on Dec 2020.
Y-O-Y on Growth in PSA is at 10.74 % and for agriculture it is at an impressive 14.13%.
Meeting concluded with vote of thanks to all the participants.