The Hindu Business Line : Credit plan for Dakshin Kannada up

Higher allocation
The outlay has been increased by 26% over the previous year.
The priority sector credit, with an outlay of Rs 1,611.61 cr, constitutes 70% of the credit plan.

Mangalore March 27 The credit plan for Dakshina Kannada district for 2007-08 has been proposed at Rs 2,311 crore, an increase of 26 per cent over the previous year.

The Lead District Office of Syndicate Bank prepared the credit plan by consolidating the branch credit plans of 364 branches of 46 banks operating in the district. The branch plans were formulated based on the potential-linked plan prepared by Nabard.

The priority sector credit, with an outlay of Rs 1,611.61 crore, constitutes 70 per cent of the credit plan for 2007-08. Agriculture sector, with an outlay of Rs 608.81 crore, constitutes 26 per cent of the plan.

The allocation for secondary sector accounts for Rs 287.56 crore. The amount earmarked for the other priority sector is Rs 715.84 crore and the non-priority sector is Rs 700.34 crore.

Allocations

The commercial banks in the district contribute 78 per cent of credit at Rs 1,803 crore, followed by the district central cooperative banks with Rs 449 crore. The banks have also made appropriate allocations under the credit plan for lending under the different Government-sponsored schemes to the extent of Rs 47.45 crore.

The Deputy Commissioner of Dakshina Kannada district, Mr M. Maheshwara Rao, released the credit plan for 2007-08 at a special meeting here on Tuesday.

BANKS' BUSINESS

Later, a district-level review committee meeting for the banking development was informed that the banks in the district crossed a business level of Rs 13,539 crore at the end of December 2006. This business includes deposits of Rs 8,232 crore and advances of Rs 5,307 crore. Syndicate Bank, the lead district bank, organised the meeting.

Banks in the district, which have adopted villages for extending banking facilities to all under the financial inclusion, opened 67,803 no-frill accounts and extended 1,943 general credit cards.

The meeting was informed that 34,769 self-help groups have been formed in the district. Of the above groups, 26,235 SHGs have been credit linked to the tune of Rs 192 crore.