Telangana’s annual credit plan for 2020-21 with an outlay of ₹1,61,620 crore, that in comparison to previous fiscal, is an increase of 10.52%, was unveiled at the State Level Bankers’ Committee (SLBC) meeting here on Monday.
Agriculture Minister S. Niranjan Reddy launched the plan in the presence of senior bankers and officials from the State government, including SBI Hyderabad Circle Chief General Manager and SLBC President Om Prakash Mishra and Principal Secretary Finance K. Ramakrishna Rao.
A release from SLBC said the share of priority sector in the credit plan is ₹1,22,720 crore or 75.93% of the outlay. As against the priority sector advances of ₹1,11,288.22 crore in 2019-20, this is 10.27% higher.
The annual plan projects disbursals under agricultural sector to be ₹75,141.71 crore or 9.54% more than the previous fiscal’s ₹ 68,596.71 crore. Short term production credit disbursals are pegged at be ₹53,222.51 crore in 2020-21, an increase of 9.20% from the ₹48,740.43 crore in 2019-20.
Investment credit (agriculture term loans, including for allied activities) are projected to be ₹12,061.07 crore. This is an increase of 5.38% from the ₹11,445.36 crore of 2019-20.
For micro, small and medium enterprises (MSME), the projected disbursal at ₹35,196.87 crore is an increase of 12.25% over the ₹31,355.25 crore in the previous fiscal, the release said.
The annual credit plan was launched at the 26th quarterly review meeting of the SLBC that reviewed the performance of the banks for the quarter ended December 2019 and March, 2020.
Sharing details of the performance of the banks in Telangana during 2019-20, Mr. Mishra said total deposits grew ₹30,168 crore (6.64% growth) during the year to ₹4,84,440 crore. Total advances of the banks increased by ₹36,544 crore (6.84% growth) during the year to ₹5,70,418 crore.
During the last financial year, banks lent ₹37,109 crore under Kharif and Rabi and achieved 76.13% of short term production loan target. Lending towards educational loans and housing loans under priority sector was at ₹977 crore and ₹5,099 crore respectively. Banks disbursed ₹49,848 crore to MSMEs segment during last fiscal achieving 158% of the target, the release said.