Hyderabad, Jun 28 (PTI) The Annual Credit Plan of the banks in Telangana for 2018-19 has been pegged at Rs 1,36,733 crore, of which the share of priority sector is Rs 92,748 crore (68 per cent). Also Read - China Ramping Up Border Infrastructure, Govt Taking Necessary Measures: MEA
State Finance Minister E Rajender today unveiled the Plan at a meeting of the State Level Bankers’ Committee (SLBC) here. The meeting was also held to review the performance of banks for the quarter ended March, 2018. Also Read - Samajwadi Party Will Support Mamata Banerjee's TMC In Upcoming West Bengal Polls, Confirms Akhilesh Yadav
In the Plan, agriculture segment has a major share of 63 per cent of priority sector at Rs 58,063 crore and the share of MSME segment is 23 per cent (Rs 16,465 crore), a SLBC release said. Also Read - India vs Australia 2021: Shubman Gill to Mohammad Siraj, Washington Sundar to T Natarajan - 5 Indian Players Who Made Test Debuts on Tour Down Under
“During the last financial year, out of term lending target of Rs 14,447 crore to agriculture, banks could lend only Rs 19,973 crore,” it said.
This year, based on NABARD’s Potential Linked Plan, a moderate increase in disbursal target to Rs 15,568 crore has been projected, it said.
On the performance of banks in Telangana during the year ended March 31, 2018, it said total deposits of the banks grew by Rs 17,248 crore (4.36 per cent) and the total deposits were at Rs 412,945 crore as on March 31.
The total advances grew by Rs 87,679 crore (22.32 per cent) during the year and the advances of all banks were at Rs 480,533 crore as on March 31, according to the release.
Speaking on the occasion, Rajender appreciated the cooperation of bankers in the implementation of the state government’s investment support scheme for farmers.
The banks have also contributed in Telangana ranking on top in the country vis-a-vis different development parametres, he said.
He, however, urged the banks to increase the number of branches and also the manpower so as to serve the people better.
Expressing concern that a large number of youth were unemployed, Rajender said the banks should lend liberally to the priority sector and those dependent on traditional occupations.
This is published unedited from the PTI feed.