Rs 18,000 cr credit plan for Dakshina Kannada

Agencies

Mangaluru, 25 Mar 2021: Dakshina Kannada Zilla Panchayat Chief Executive Officer Kumara on Wednesday released the district credit plan for 2021-22 with a credit outlay of Rs 18,000 crore, including priority sector lending of Rs 12,534.74 crore.

 

Among the priority sectors, a target of Rs 6,651.07 crore has been earmarked for agriculture, Rs 4,004.65 crore for micro small and medium enterprises, Rs 1,000 crore for housing and Rs 594 crore for export sectors.

 

A target of Rs 106.5 crore has been earmarked for education, Rs 96.02 crore for renewable energy and Rs 82.5 crore for social infrastructure.

 

As much as Rs 5,465.26 crore has been earmarked for non priority sector.

 

These targets have been given to 35 financial institutions that include nationalised banks, private commercial banks and cooperative banks in the district based on their performance in 2020-21.

 

Among the thrust areas for the new financial year include formation and linkage of Farmers Produce Organisations (FPOs) to market and institutional market, linking of farmers and FPOs to eNAM/Electronic markets and setting up of infrastructure for storage, grading, packing and processing of farm produce.

 

Banks have been told to promote micro enterprises for food processing and mainstream financially excluded sectors through schemes such as Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Mudra Yojana and Joint Liability Schemes.

 

During the district level review committee meeting, banks pointed out the need for increasing the housing loan limits for priority sector lending from the present Rs 35 lakh for urban areas and Rs 25 lakh for rural areas.

 

There were few takers for loan as the present threshold amount was too less.

 

The disbursement under housing was Rs 401.86 crore, which was 31% of the yearly target of Rs 1,300.9 crore.

 

AGM, Reserve Bank of India (RBI), G. Venkatesh, who attended the meeting virtually, said that a proposal in this regard will be made to the Department of Financial Services of the Union government.

 

The total business in Dakshina Kannada till December 31, 2020 stood at Rs 82,616.35 crore and the year-to-year growth was 8.65%. The total disbursement for priority and non-priority sectors was Rs 10,972.7 crore. The total disbursement for the priority sector was Rs 6,915 .02 crore, of which Rs 3,570.14 crore was for agriculture sector, Rs 2,444.14 crore for MSMEs and Rs 38.83 crore for education.