Srikakulam: Annual credit plan for 2020-21 released

Srikakulam: All the bankers in the district have prepared annual credit plan for the 2020-21 financial year under the guidance of lead bank to grant Rs 6,900 crore worth of loans to different sectors.

District Collector J Nivas and lead bank district manager (LDM) G V B D Hari Prasad released the annual credit plan at Zilla Parishad office in Srikakulam city on Tuesday.

Speaking on the occasion, the Collector assured that needy people in all sectors will get loans with easy process and appealed to them to utilise the facility in the right way.

The LDM explained that Rs 5,715 crore worth of loans will be granted for priority sectors and Rs 1,185 crore worth of loans will be sanctioned for other than priority sectors. During the previous year, a credit plan with Rs 6874 crore was prepared and loans to the tune of Rs 5,916 crore were disbursed thus achieving a 86 per cent of the target, he pointed out.

Regional and zonal level officials from different public and private sector banks attended.