Karnataka - Shimoga   

Plan to lend Rs. 1,263 cr. in Shimoga district

Special Correspondent

District credit plan envisages Rs. 694.46 crore for agriculture

SETTING TARGETS: Deputy Commissioner T.K. Anilkumar (middle) releasing the District Credit Plan for 2007-2008 in Shimoga on Tuesday.

SHIMOGA: The District Credit Plan for Shimoga district for 2007-2008 prepared by Canara Bank, the Lead Bank for the district, for Rs. 1,263.21 crore was launched by Deputy Commissioner T.K. Anilkumar here on Tuesday.

On the occasion, he said that the fact that 82 farmers committed suicide between 2001 and 2005 in the district should highlight the need for banks to lend to farmers in a big way.

He asked the banks in the district to plan their lending programme as the district was poised to make a big leap in the industrial sector in the next five to 10 years.

The District Credit Plan has earmarked Rs. 1,055.54 crore for the priority sector and Rs. 207.67 crore for the non-priority sector. Shimoga taluk, which gets an allocation of Rs. 361.42 crore for the priority sector and Rs. 99.42 crore for non-priority sector, takes the first place followed by Bhadravati taluk with Rs. 201.74 crore for priority sector and Rs.49.84 crore for non-priority sector.

The Canara Bank, which has earmarked Rs. 264.74 crore for the priority sector, tops the list of banks in the district.

The State Bank of Mysore and Shimoga District Central Cooperative Bank take the second and the third places with their allocation of Rs. 206 crore and Rs. 141.42 crore respectively for the priority sector.

The District Credit Plan envisages to earmark Rs. 694.46 crore for agriculture, Rs. 305.39 crore for business and services, Rs. 55.69 crore for small-scale industries and Rs. 478.70 crore for crop loan.

Lead District Bank Manager N.B. Sitharam Bhat outlined the features of the new district credit plan.

The Assistant General Manager of NABARD, Srikrishna; Assistant General Manager of Canara Bank at Hassan, T.R. Srinivas Rao; and Manager of the Reserve Bank of India, K.P.Nandkumar, were among those who were present.

The Assistant General Manager of Canara Bank (Shimoga Region), V.R. Bailur, welcomed the gathering.

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