The Hindu : Karnataka / Mysore News : Rs. 1,028-crore credit plan released

Online edition of India's National Newspaper
Thursday, Mar 24, 2005

Karnataka

Karnataka - Mysore

Rs. 1,028-crore credit plan released

By Our Staff Correspondent

MYSORE, MARCH 23. The Deputy Commissioner, Kumar G. Naik, today released a Rs. 1,028.22-crore annual district credit plan at the office of the State Bank of Mysore, which is the lead bank, here.

The plan shows an increase of Rs. 162.03 crores (18.70 per cent) over the previous year. The plan is expected to benefit 1.86 lakh beneficiaries.

Commercial banks have a share of 80 per cent in the total outlay for 2005-06 of which, seven per cent will be contributed by commercial banks in the private sector.

Regional rural banks will contribute 11 per cent, while the share of cooperative banks will be nine per cent.

Priority sector lending has been estimated at Rs. 791 crores, and it is likely to cover 1.46 lakh beneficiaries.

Priority sector estimates has seen a jump of Rs. 176.5 crores over the previous year, an increase by 29 per cent.

The outlay for the priority sector lending has been pegged at Rs. 237.21 crores, a marginal decline of 5.73 per cent over the previous year.

The outlay for the agriculture sector is Rs. 431.12 crores, an increase by 45.73 per cent over the previous year.

The increase over the previous year is Rs. 135.30 crores. A sum of Rs. 98.80 crores has been earmarked for crop loans.

A sum of Rs. 15.04 crores has been allocated for minor irrigation, which is an increase by 11.16 per cent over the previous year, while land development projects will receive Rs. 10.56 crores.

A sum of Rs. 22.83 crores has been earmarked for farm mechanisation and Rs. 27.66 crores for animal husbandry.

Other agricultural and allied activities will get Rs. 26.70 crores.

A sum of Rs. 290 crores has been allocated for other priority sectors, including loans and advances to transport operators, small business finance for retail traders, business enterprises, professional and self-employed persons, housing and education loans along with advances to self-help groups.

A sum of Rs. 237.21 crores has been earmarked for non-priority sector, a decrease by Rs. 14.47 crores compared to the previous plan.

The Chief Executive Officer of the Mysore Zilla Panchayat, K.R. Niranjan, and the General Manager (Planning and Development) of the State Bank of Mysore, B.N. Ramaiah, were present.

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