District credit plan gives thrust to agriculture, MSMEs

Tirupati: The district credit plan for 2023-24 has been projected at Rs 14,362.14 crore and the book has been released by the District Collector K Venkataramana Reddy in the presence of NABARD DM Sunil at the Collectorate on Wednesday. On the occasion, he asked the bankers to cooperate in taking the government priority schemes forward and to place the district at first place in banking services from the current third position.

Addressing a review meeting with district advisory committee and district level review committee, bankers and other officials, he said that there should be coordination among bankers in sanctioning loans for government schemes.

This will help in the economic growth of beneficiaries by using the subsidies and thereby employment opportunities will increase. Going into details, the Collector said the agriculture loans were provided by 128 percent and MSME loans by 91 percent of the targets. However, only 54 percent of the target in education loans was met. By giving priority to the education loans for foreign studies, the 100 percent target should be reached.

The Collector further told the bankers that every branch should provide at least two MUDRA loans and if focus is laid on PMEGP loans, more people can get employment. Saying that the housing constructions were going on well in Gudur, he pointed out that still 150 loan applications were pending at bankers which should be cleared by this month end. Lead Bank convenor P Purnima said that with the help of government officials, banking services can be improved. She felt that by taking part in banking literacy programmes, cybercrimes can be prevented. In the credit plan for 2023-24, agriculture and ancillary wings credit has been projected at Rs 9,185.36 crore, for MSMEs Rs 2,979.53 crore, for exports Rs 58.96 crore, for education sector Rs 158.10 crore, housing sector Rs 648 crore, to provide social infrastructure involving bank credit Rs 34.96 crore, for renewable energy Rs 25.04 crore and for informal credit delivery system Rs 1,268.18 crore were projected.

Union bank regional officer G Ramprasad, Saptagiri Grameena Bank regional manager Jayakumar, Indian Bank AGM Rajesh, Andhra Pragathi Grameena Bank regional manager Sailendra, other banks representatives and district officials participated in the meeting.