The Hindu Business Line : Higher advance targets set for agri, SSI, priority sectors

Industry & Economy - SSI
Agri-Biz & Commodities - Farm credit
Money & Banking - Credit Market
States - West Bengal
Higher advance targets set for agri, SSI, priority sectors

Our Bureau

Kolkata, July 12

The State-Level Bankers' Committee, West Bengal, at a meeting here on Wednesday, finalised the Annual Action Plan for 2007-08 by setting higher advance targets for agriculture, SSI and the overall priority sector for the year vis-…-vis 2006-07.

Thus, the target for agriculture advance has been set at Rs 5,000 crore in 2007-08 as compared to Rs 3,850 crore in 2006-07, thus envisaging a growth of 39.7 per cent, for SSI sector at Rs 3,000 crore Rs 1,513 crore) or a growth of 98.3 per cent and for the total priority sector at Rs 10,983 crore (Rs 8,176 crore) or a growth of 34.3 per cent.

The senior officials of the West Bengal Government, including, Dr P.K. Agarwal, Land Reforms Commissioner, and Mr A.K. Das, Special Secretary, Finance Department and Director Institutional Finance, among others, attended the meeting which was presided over by Mr P.K. Gupta, CMD of United Bank of India, the Convenor bank of SLBC, WB. Mr P. Mohanaiah, Chief General Manager, National Bank for Agriculture & Rural Development, and Mr C.D. Srinivasan, General Manager, Reserve Bank of India, were also present.

The banks in West Bengal, as Mr Gupta indicated, would be keen to extend assistance to 1 lakh bargadars and another 1lakh pattadars in the current year, as suggested by the State Government. The performance of 2006- 07 included, among others, achieving higher CD ratio at 66 per cent, 23 per cent growth in deposits, 39 per cent rise in priority sector advances and 26 per cent growth in SSI advances. The advances to weaker sections increased by 43 per cent and to women entrepreneurs by 46 per cent.

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