Latest news with #AnnualCreditPlan
Time of India
16 hours ago
- Business
- Time of India
Ranking index for banks to boost lending performance: Dy CM
Patna: Deputy CM Samrat Choudhary on Tuesday said the state govt has given its approval to create a ranking index to improve the performance of banks and ensure their accountability. Banks getting less than 40 marks on the index will be deprived of state schemes and govt deposits, he said. "This is like an alarm for the banks. Only those banks which score a minimum of 40 marks on this index will be included in the state govt schemes and only they will be allowed to accept govt deposits and do banking transactions with public sector undertakings, authorities and societies," said Samrat, who is also the finance minister of the state. This index has been prepared on the basis of banking performance—achievement of the target of annual credit plan, increase in credit-deposit ratio, loan distribution in priority sectors like agriculture, animal husbandry, fisheries etc., loan availability to self-help groups, and participation in govt schemes like Mudra Yojana, Kisan Credit Card, PMEGP etc, he said. The deputy CM said the role of banks is important in the economic development of the state. "Their work is not limited to keeping the savings safe but it also strengthens the economic pace of the state. By providing loans in agriculture, industry, trade, service, education and other sectors, banks also help in creating employment opportunities. Keeping in mind this important role of banks, a target for credit receipt is fixed for them under the Annual Credit Plan through the State Level Bankers Committee at the beginning of the financial year," he said. He further said during the FY 2024-25, most of the banks failed to achieve these targets. "The credit-deposit ratio of the state is also currently lower than the national average," Samrat said.
Hans India
07-06-2025
- Business
- Hans India
Development through focus on priority sectors: JC
Rajamahendravaram: East Godavari Joint Collector S Chinna Ramudu stressed the need for holistic development by focusing on priority sectors and encouraging aspiring entrepreneurs, aligning with the State government's vision. He made these remarks while presiding over the District Consultative Committee (DCC) and District Level Review Committee (DLRC) meeting held at the Collectorate on Friday. The meeting also marked the launch of the Annual Credit Plan for 2025–26 and the first quarterly review of the current financial year. Reviewing last year's achievements, the Joint Collector stated that notable progress was recorded across banking and development schemes. 'In the agricultural sector, the district achieved 120% of the set target, while in other priority sectors, 113% of the goal was met,' he said, noting that East Godavari had outperformed the previous financial year. Special attention was given to financial support for Self-Help Groups (SHGs). For FY 2025–26, the district has set a target of disbursing Rs 820 crore in loans to 1,36,618 farmers. Additionally, loans amounting to Rs 863 crore under the MUDRA scheme and Rs 269 crore for the animal husbandry sector have been planned. Officials noted that surveys are being conducted to identify viable livelihood sectors for women SHGs under a real-time framework, enabling banks to extend financial assistance accordingly. The Joint Collector also stressed the importance of loan disbursement for grounding PM Surya Ghar solar units. He urged bankers to take the initiative, noting that beneficiaries from socially disadvantaged groups can avail subsidies under the scheme. 'This is one of the top-priority programmes of the Central Government,' he added. Deputy Regional Head of Union Bank A Manoj, NABARD DDM Chakradhar Ravuri, LDM DV Prasad, along with other district officials and bankers, were present at the meeting.
The Hindu
29-05-2025
- Business
- The Hindu
Annamayya district annual credit plan set at ₹16,619 crore
Annamayya District Collector Sridhar Chamakuri on Thursday said the District Annual Credit Plan for 2025–26 envisaged a total credit outlay of ₹16,619 crore with agriculture sector earmarked with ₹12,273 crore followed by an allotment of ₹1,495 crore for industries and services. The Collector directed the bankers to ensure prompt implementation of the Annual Credit Plan for the financial year 2025–26. The Collector was addressing the bankers and officials of the agriculture and allied departments at a review meeting held at the Collectorate. Lead District Manager (LDM) Anjaneyulu apprised the Collector that the district surpassed its targets for the financial year 2024–25 by posting 131% of the overall credit disbursement target. He said that the agriculture sector received 126% of its targeted credit, while the industry and service sectors achieved their targets with 108% disbursement. The Collector highlighted the need for enhanced credit flow, primarily to the sectors of agriculture, industries, and women's self-help groups. He said that the loans to SHGs be processed timely and the digitisation be completed within the timeframe. Officials from the Reserve Bank of India, NABARD, and State Bank of India were present.
The Hindu
29-05-2025
- Business
- The Hindu
Annual Credit Plan released for Erode district
The Annual Credit Plan for Erode district for 2025-26 envisaged a total outlay of ₹30,257.99 crore with agriculture and MSME sector getting major share. Collector Raja Gopal Sunkara released the plan at the Collectorate on Wednesday that was received by Reserve Bank of India's Assistant General Manager Vijay Vignesh. The plan was prepared by the district lead bank, Canara Bank, based on the Potential Linked Credit Plan prepared by NABARD. The credit plan outlay is an increase of ₹3,995.18 crore (15.21%) when compared to the plan outlay in 2024-25. Agriculture sector was given the major share of ₹18,918.01 crore and Micro Small and Medium Enterprises (MSME) got ₹10,551.28 crore. Other priority sectors were given ₹788.70 crore. Vivekananth, Lead Manager, Canara Bank, G. Saravanan, Assistant Regional General Manager, Ashok Kumar, General Manager, NABARD, Thirumurugan, General Manager, District Industries Centre and other officials were present. eom\sps.
The Hindu
28-05-2025
- Business
- The Hindu
Chittoor earmarks ₹17,809 crore Annual Credit Plan for 2025-26
District Collector Sumit Kumar on Wednesday unveiled the Annual Credit Plan (ACP) for the financial year 2025–26 with a total outlay of ₹17,809 crore prioritising financial assistance to boost the integrated development of the district across key sectors. Releasing the ACP booklet during the District Consultative Committee (DCC) and District Level Review Committee (DLRC) meeting at the Collectorate here, the Collector highlighted the importance of ensuring prompt disbursal of loans to the farming sector and entrepreneurs. The Collector said that of the total credit plan, agriculture and allied activities will get the lion's share with ₹12,195.27 crore, constituting 68.4% of the lending. 'This major share will benefit about 6.38 lakh farmers and landless farm workers,' he said. The Micro, Small, and Medium Enterprises (MSME) sector will receive ₹2,216.07 crore (12.44%), while other priority sectors will be provided with ₹220.81 crore. 'Commercial banks will shoulder ₹11,843.43 crore, which forms 66.5% of the integrated plan. The Andhra Pradesh Grameena Vikas Bank has been earmarked with ₹4,594.28 crore (25.79%), and the District Cooperative Central Bank (DCCB) will get a share of ₹1,233.59 crore (6.9%) and Small Finance Banks at ₹138.07 crore (0.77%),' the Collector said. Mr. Kumar directed the banks to liberally support initiatives implemented by both Central and State governments such as Stand Up India, Pradhan Mantri Suraksha Bima Yojana, and Pradhan Mantri Jeevan Jyoti Bima Yojana. He asked the banks to reach the targets set under each scheme within the timeframe, mainly for the benefit of farmers seeking crop loans, and to the dairy and poultry sectors, and the MSMEs. Mr. Kumar said that facilitating access to credit without delays would be an essential gesture for rural economic growth and inclusive development. Representatives from the Reserve Bank of India led by Rohit Agarwal, NABARD Divisional Manager Sunil, LDM Harish, and senior officials from the Agriculture and allied departments were present.
