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Rs.3,263-crore credit plan for Kannur

Staff Reporter

18.09 per cent rise in total credit

KANNUR: The District Annual Credit Plan for 2007-08 envisages a credit target of Rs.3,263 crore, including Rs.2,105 crore earmarked for priority sector lending.

The credit plan was launched by District Collector Ishita Roy at a combined meeting of the District Consultative Committee and District Level Review Committee for banking development of the district here on Friday.

In the credit plan, there was an increase of Rs.500 crore (18.09 per cent) in total credit and Rs.280 crore (15.34 per cent) in credit under priority sectors when compared to the outlay of the current financial year. The category-wise targets are: Rs.669.83 crore for the agriculture sector, Rs.103.81 crore for small scale industries, Rs.1,331.47 crore for trade and services sector, Rs.2105.10 crore total priority sectors and Rs.1,158.04 crore non-priority sector.

Scheme

The meetings resolved to implement 100 per cent financial inclusion scheme in the district immediately.

The scheme would address the vital issue of eradicating poverty by providing banking and financial services to all people, especially the rural poor, a press release issued by lead district bank manager P.N. Vijayan Nair said.

The banks were urged to conduct a house-to-house survey and open accounts of the people excluded from the banking and financial services and to ensure that at least one person in each house was having a bank account, he said.

The meeting reviewed the performance of the banks in implementing the credit plan up to the end of the third quarter ended December 31, 2006.

As against the total credit plan of Rs.2037.56 crore for the third quarter, the achievement was to the tune of Rs.2,680.97 crore.

The achievement was 132 per cent of the target. The banks had also shown an impressive performance under the priority sector, the meetings evaluated.

The ratio improved by seven per cent compared to last year's position.

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