Rs. 2,029-crore credit plan for Udupi

Bellevision Media Network

Udupi, 09 April 2011: Udupi Zilla Panchayat chief executive officer N. Rajashekhar released the District Credit Plan for Udupi district which projects an outlay of Rs. 2,029 crore for the financial year 2011-2012 here on Friday. The Plan was drafted by SyndicateBank, the lead bank of the district, by consolidating the branch credit plans of 270 branches of 28 banks operating in the district.

 

Mr. Rajashekar said the credit plan was development-oriented as 28 per cent of the outlay went to the agriculture sector and 32 per cent to tertiary sector comprising mainly of road transport, business, education, housing, and micro credit lending, which had high potential for generating employment.

 

K. Santosh Kamath, General Manager, SyndicateBank, Regional Office, said the share of priority sector in the District Credit Plan was Rs.1,555 crore, which accounted for 77 per cent of the outlay. He said the Credit Plan would give impetus to agriculture as a substantial amount had been allotted to it.

 

Udupi Zilla Panchayat CEO N. Rajashekhar (third from Left) releasing the District Credit Plan for 2011-12 in Udupi on Thursday

 

The allocation to agriculture sector was Rs. 568 crore, which was Rs. 107 crore more than last year. Of Rs. 568 crore, a lion’s share of Rs. 241 crore had been earmarked for crop production purposes, which was 54 per cent more than the allocation made in the previous fiscal.

 

The allocation for secondary sector was Rs. 353 crore, while it was Rs. 634 crore for tertiary sector. Non-priority sector got a share of Rs. 474 crore which was 23 per cent of the outlay. The share of SyndicateBank was 42 per cent in the total outlay, Mr. Kamath said.

 

National Bank for Agriculture and Rural Development (NABARD) Assistant General Manager Prasad Rao said the credit plan had been harnessing the potential available in the district as it matched the Potential Linked Plan of NABARD prepared for the district.

 

Lead District Manager Divakara Bhat welcomed the gathering. Reserve Bank of India (RBI) Officer M.S. Hasan and zilla panchayat deputy secretary D. Pranesh Rao, were present.

- The Hindu