HYDERABAD: The Annual Credit Plan for 2020-21 is pegged at Rs 1,61,620 crore against Rs 1,46,238.44 crore of 2019-20, an increase of 10.52 per cent. The Annual Credit Plan for this year was released by the State Level Bankers’ Committee at MCR HRD, on Monday.
Of the total credit plan, priority sector share is Rs 1,22,720 crore i.e. 75.93 per cent. Disbursals under priority sector advances is projected at Rs 1,22,720.61 crore against Rs 1,11,288.22 crore last year, an increase of 10.27 per cent. Disbursals under agricultural sector is projected at Rs 75,141.71 crore against Rs 68,596.71 crore for 2020-21, an increase of 9.54 per cent.
Agriculture Minister Singireddy Niranjan Reddy launched the plan. SLBC president OM Prakash Mishra, Principal Finance Secretary K Ramakrishna Rao, Agriculture sector, and Commissioner B Janardhan Reddy and other officials attended the SLBC meeting. Mishra said total deposits of the banks grew by Rs 30,168 crore (6.64 per cent growth) during the year and the total deposits of all banks were at Rs 4,84,440 crore as on March 31, 2020.
The total advances of the banks grew by Rs 36,544 crore (6.84 per cent growth) during the year and the total advances of all banks were at Rs 5,70,418 crore as on March 31, 2020. Mishra said the CD ratio had improved from 117.52 per cent as on March 2019 to 117.75 per cent as on March 31, 2020.
According to SLBC report, the banks have sanctioned Rs 2,513 crore and disbursed Rs 1,688 crore till June to MSME beneficiaries under Atmanirbhar Bharat scheme. Under Covid-19 emergency credit line Rs 231 crore was handed over to eligible farmers and around 68,190 SHG members received Rs 370 crore loan up to June 30, 2020.