The Hindu : Kerala / Thiruvananthapuram News : Rs.2,879.66-crore annual credit plan approved

Online edition of India's National Newspaper
Wednesday, Apr 11, 2007
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Kerala

Kerala - Thiruvananthapuram

Rs.2,879.66-crore annual credit plan approved

Special Correspondent

Thiruvananthapuram: The District Consultative Committee of Banks held here on Tuesday approved an annual credit plan of Rs.2,879.66 crore for the year 2007-08. The figure represents a 31 per cent increase over the last year's target.

The agriculture sector gets an allocation of Rs.1,200.43 crore while the outlay for the non-farm sector is pegged at Rs.191.38 crore and that for other priority sectors is fixed at Rs.1,487.84 crore.

The meeting was informed that priority credit disbursement by banks in Thiruvananthapuram during the first nine months of the fiscal year 2006-07 crossed Rs.1,546.73 crore, against an annual target of Rs.2,186.76 crore, registering an achievement of 70.73 percent.

Presiding over the meeting, Additional District Magistrate K. Surendran urged banks to be more pro-poor and ensure simple and transparent formalities for sanctioning loans.

He also requested banks to inquire into complaints of non-sanctioning of loans.

The meeting was organised by the Indian Overseas Bank, the lead bank for the district. IOB deputy general manager Laxmi Narasimhan, Lead District Manager Abraham Shaji John and officials from Reserve Bank of India, NABARD, District Industrial Centre, Agriculture Department and Poverty Alleviation Unit participated.

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