Thiruvananthapuram, Jan 6 (KNN) The National Bank for Agricultural and Rural Development (NABARD) has launched a potential-linked credit plan, projecting a substantial Rs 22,075 crore for priority sector lending in Thiruvananthapuram during the fiscal year 2024-25.

This document serves as the foundation for banks to conduct priority sector lending.

Deputy Collector, V. Jayamohan, unveiled this comprehensive plan during a meeting of the District Consultative Committee for Banking Development held on Friday.

The targeted allocation for the agriculture sector stands at Rs 8,602 crore.

During the meeting, it was disclosed that banks in the district had already disbursed Rs 13,482 crore as priority sector loans up to September in the previous fiscal year 2023-24.

Notably, Rs 7,426 crore was directed towards the agriculture sector, while Rs 5,578 crore was allocated for the MSME sector.

As of September 30, the district's bank deposits amounted to Rs 1,16,238 crore, with advances reaching Rs 88,913 crore, resulting in a credit-deposit ratio of 76 per cent.

The review meeting witnessed the participation of key figures, including G.V. Dayal Prasad, Chief Regional Manager of Indian Overseas Bank and convener of the district-level review committee, Syam Sunder, Lead District Officer from the Reserve Bank of India, Minu Anwar, District Development Manager, S. Jayamohan, Lead District Manager, along with heads of various development departments, bank executives, and financial literacy counsellors.

(KNN Bureau)