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21/04/2017 12:58pm

Credit flow for Tirupur projected at 10,167 cr; MSMEs to scoop 61% of the total credit

image Credit flow for Tirupur projected at 10,167 cr; MSMEs to scoop 61% of the total credit

New Delhi, Apr 21 (KNN) The credit flow to the Tirupur district is project at the new high of Rs 10,167 crores. It is for the first time ever since the district was formed in 2009, that the credit flow has reached the five digit mark.

The projected figure was compiled by the Lead Bank. This year’s projection stands 16.12 per cent more than the projections made last year.

The top priority sector for the credit flow includes MSMEs, agriculture, education, renewable energy and housing.

Of the projected 10,167 crores, MSME sector expects a credit flow of Rs 6,220 crores almost 62 per cent of the total amount.

Following MSME, the agriculture sector expects credit flow of 2,674 crores. Renewable energy, housing and education is expected to get Rs 1,273 crore

Expressing the rising significance of MSMEs in the district, S. Sudaramoorthy, Bank manager of the Lead bank said that the loan amount for MSME sector is bound to go up exponentially as the industries in Tirupur’s knitwear cluster are experiencing more orders throughout the year. While earlier they used to get seasonal orders. (KNN/ DA)

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