The annual credit plan for banks in Andhra Pradesh for the year 2022-23 has been pegged at ₹3,19,480 crore.
As per the annual credit plan launched by the State Level Bankers’ Committee (SLBC), Andhra Pradesh for the current financial year with a total outlay of ₹3,19,480 crore has earmarked a lion’s share of 54 per cent lending to agriculture at ₹1,64,740 crore.
Out of the total outlay, the priority sector disbursal target has been pegged at₹2,35,680 crore accounting 73.76 percent of total State annual credit plan.
Despite Covid19 challenges, the annual credit plan target for 2021–22 was surpassed by banks as they disbursed 33 per cent higher loans than the target set for the year, according to a release.