Banks in Bhopal shifting focus from agriculture to MSME under annual credit plan; facilitated 122% credit to MSMEs

New Delhi, May 29 (KNN) Under annual credit plan, Banks in Bhopal have facilitated 122 percent credit to MSME sector against the set target. The focus of banks is shifting from agriculture sector to MSME sector and surpassed its 2016-17 target in MSME sector which clocked at 102%.

While the credit towards other sectors including education, housing social infrastructure, renewable energy and others lagged far behind.

The credit to agriculture sector during the period 2017-18 stood at 64% only, against 79% in the year 2016-17.

Importantly, Commercial Banks (CBs) are miles ahead in disbursing credits from their counterparts like Rural Regional Bank (RRBs) and co-operative banks.

The CBs have disbursed credit to the tune of Rs 42,905 crore in agriculture and Rs 21865 crore in MSMEs and Rs 71,330 crore in priority sectors and achieved 72%, 131% and 80% of the targets respectively in these sectors.

While RRB’s achievement stood at 43 per cent, 66 per cent and 43 per cent in lending, while cooperative banks could achieve only 56 per cent, 4 per cent and 53 per cent of the set target in these sector.

To discuss the achievements of the fiscal year 2017-18, a review meeting of state-level bankers committees is scheduled for tomorrow.

The meeting will be chaired by the Chief Minister Shivraj Singh Chouhan. The agenda of the meeting includes discussion of achievements of the fiscal year 2017-18, review of performance under annual credit plan during the period and others.