Latest news with #AnnualCreditPlan
The Hindu
5 days ago
- 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
5 days ago
- 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
6 days ago
- 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.
New Indian Express
24-05-2025
- Business
- New Indian Express
Puducherry unveils annual credit plan 2025–26 with Rs 12,100 crore outlay
PUDUCHERRY: The Annual Credit Plan (ACP) for the Union Territory of Puducherry for the financial year 2025–26, with a projected credit outlay of Rs 12,100 crore, was released on Thursday by Indian Bank, the convenor of the State Level Bankers' Committee (SLBC). The plan, covering the four regions of Puducherry Puducherry, Karaikal, Mahe, and Yanam was jointly launched by Lok Sabha MP V. Vaithilingam, Rajya Sabha MP S. Selvaganabathy, Indian Bank Executive Director and SLBC Chairman Shiv Bajrang Singh, and Secretary to Government (Finance), Ashish Madhaorao More. The ACP has been framed based on the assessed potential of various sectors and the credit performance of the previous year. A significant thrust has been placed on priority sector lending, with Rs 7,255 crore (60%) earmarked for agriculture, Rs 4,325 crore (35.73%) for Micro, Small and Medium Enterprises (MSMEs), and Rs 520 crore (4.27%) for other priority sectors.
New Indian Express
23-05-2025
- Business
- New Indian Express
Telangana Deputy CM Bhatti seeks banks' cooperation in achieving Yuva Vikasam goals
HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Thursday urged bankers to extend their full cooperation in achieving the objectives of the Rajiv Yuva Vikasam scheme. He stated that the state government aims to distribute sanction letters to five lakh unemployed youth under the scheme on June 2. Addressing the State Level Bankers Committee (SLBC) meeting here, he emphasised that allowing educated and skilled human resources to remain underutilised is a loss to society. He stressed the importance of channelling their talents into productive sectors, thereby contributing to the state's Gross Domestic Product (GDP). He noted that no other state in the country has implemented a scheme of this scale, which provides financial assistance of Rs 9,000 crore to five lakh youth. Of this amount, Rs 6,250 crore will be given as a government subsidy. The deputy CM highlighted a significant change in the scheme's structure — while previously the loan-to-subsidy ratio stood at 70:30, it has now been reversed, favouring a larger subsidy portion. Clarifying further, Vikramarka said that under the state's Annual Credit Plan, which totals over Rs 8 lakh crore, banks are required to allocate only 0.2 per cent for this scheme. He also pointed out that the government continues to support students through fee reimbursement programmes, which help in producing a skilled and educated workforce. 'For those who do not secure government jobs, the government intends to leverage their talents in entrepreneurship and industry. This vision inspired Chief Minister Revanth Reddy and the Cabinet to launch this massive employment-generation initiative,' said the deputy chief minister and requested the SLBC to appoint a special nodal officer to ensure coordination across all banks, with proper monitoring at the field level.
