22-05-2025
State's total credit plan outlay for FY'26 set at ₹11,88,986 crore
The total credit plan outlay of Karnataka for the current fiscal, 2025-26, has been set at ₹11,88,986 crore, at the 169th State Level Bankers' Committee (SLBC) meeting held at the Vidhana Soudha here on Thursday.
Of this plan outlay, the priority sector's (comprising agriculture, micro, small and medium enterprises, export credit, education, housing, social infrastructure, and renewable energy) credit requirement would be ₹4,38,016 crore, 36.84% of the total credit, for the current fiscal. Of this, agriculture would have a credit share of ₹2,22,204 crore, claiming 50.73% of the priority sector credit, crop production loans ₹1,40,108 crore, MSME credit ₹1,90,891 crore, education loans ₹2,222 crore, housing loans at ₹11,678 crore, while other sectors' credit for the year would be ₹11,022 crore.
The meeting was chaired by Uma Mahadevan, Additional Chief Secretary and Development Commissioner, Government of Karnataka, who also launched the Annual Credit Plan (ACP) for FY2026.
Ms. Mahadevan said there was a need for universal coverage under social security schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). She also urged all banks to onboard IIBF-certified (Indian Institute of Banking & Finance) NRLM (National Rural Livelihoods Mission) SHG women as banking correspondent sakhis, thereby enhancing last-mile delivery of banking services.
She commended the efforts of SLBC, RBI, NABARD, and all participating financial institutions for their collaborative efforts in the formulation of the ACP. She encouraged effective implementation of the plan to achieve the credit targets and promote inclusive and equitable growth across Karnataka.
At the SLBC meeting, S.K. Majumdar, executive director, Canara Bank, instructed banks to dispose of the pending applications of government-sponsored schemes well within the timelines. Also speaking on the occasion, Vishal R., Secretary to Government (FR), Finance Department, GoK, stressed the importance of coverage of all eligible population under the ambit of Jan Suraksha schemes.
Sonali Sen Gupta, Regional Director, Reserve Bank of India congratulated all stakeholders on the timely conduct of DCC/DLRC meetings, and Surendra Babu, Chief General Manager, NABARD appreciated stakeholders for the launch of ACP in line with NABARD'S Potential Linked Plan.
