CHENNAI: With a view to rebuild the State economy, Chief Minister Edappadi K Palaniswami has urged bankers to extend loans liberally to the key sectors of the economy that were hampered by the pandemic and related developments.
Addressing the State Level Bankers Committee at the secretariat on Saturday, the Chief Minister said, "The need of the hour is loan assistance for industries and certain other sections of the society." He also unveiled the Annual Credit Plan for the year 2020-21 with an outlay of Rs 4.21 lakh crore, on the occasion.
"Tamil Nadu has been maintaining a credit-deposit ratio of over 100 per cent for the last several years. As per the new annual credit plan, the target set for agriculture sector is Rs 1.48 lakh crore, while for the MSME sector it is Rs 92,075 crore," Palaniswami added.
There are 20.2 lakh Kisan Credit Cards in the State and through them farmers are provided loans upto Rs 1.60 lakh. The banks should conduct camps to disburse these loans, the chief minister added.
Pointing out that MSMEs contribute 30 per cent of Tamil Nadu’s gross state domestic product (GSDP), he said that one crore people could get jobs through them. "The banks should help the State receive maximum benefit of the Central government’s Rs 3 lakh crore revival package," he added.