Telangana: Bankers urged to achieve targets of annual credit plan

Rahul said a sum of Rs 1,951 crore was earmarked to short term loans, while long term loans worth Rs 609 crore were allocated to the agriculture sector in the annual credit plan of 2022-23 financial year.

Mancherial: Additional Collector (Local Bodies) B Rahul asked bankers to achieve the targets set to various sectors by having coordination with officials concerned. He along with Lead Bank Manager Mahipal Reddy convened a review meeting over annual credit plan of 2022-23 fiscal here on Saturday.

Rahul said a sum of Rs 1,951 crore was earmarked to short term loans, while long term loans worth Rs 609 crore were allocated to the agriculture sector in the annual credit plan of 2022-23 financial year. He stated that loans to the tune of Rs 687 crore were going to be extended to micro, small and medium enterprises. Similarly, loans of Rs 121 crore were allotted to the education sector and loans worth Rs 237 crore would be sanctioned to the housing sector.

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The Additional collector stated that Rs 4,060 crore has been allocated to priority sector, while Rs 299 crore was earmarked to non-priority sector. The outlay of the annual credit plan set to the district was Rs 4,359 crore. The bankers achieved the target by disbursing loans of Rs 394 crore to 8,333 self-help groups operated in rural parts. They sanctioned loans of Rs 382 crore to the agriculture sector as against the target of Rs 609 crore.

He further said that loans worth Rs 349 crore were given to micro, small and medium enterprises so far when compared to the target of Rs 687 crore. Loans of Rs 1,277 crore were granted to the non-priority sector as against the annual target of Rs 299 crore, reflecting an excess by 427 percent.