Banks clock 85% of annual credit target of Rs 600 bn in Odisha

Achievement for farm sector is 72.62% of the credit target of Rs 312.08 bn; state surpasses MSME lending target

Banks having operations in Odisha have clocked 85.67 per cent of the annual credit plan of Rs 600 billion fixed for 2017-18 under the priority sector.

The credit disbursement made by the banks under major segments of priority sector is Rs 514 billion.

According to latest data collated by the State Level Bankers' Committee (SLBC), the achievement for the agriculture sector is Rs 226.64 billion which is only 72.62 per cent of the credit target of Rs 312.08 billion fixed for the last fiscal year. It includes farm credit of Rs 201.11 billion and the balance advanced is for agriculture infrastructure and ancillary activities.

For advances to MSMEs, banks have surpassed the targets assigned to them. The credit to micro and small enterprises is calculated at Rs 203.08 billion against the target of Rs 154.24 billion.

The export target credit has also surpassed the target of Rs 4.2 billion, achieving a growth of 785 per cent.

The advances to education sector is abysmally low with meager 34.55 per cent achievement of Rs 10.94 billion earmarked for 2017-18. 
 

Against the allocation of Rs 48 billion credit for the housing sector, the credit off take is Rs 28.93 billion at the end of fiscal year.

As on September end, lending to other priority sector stood at 27.35 per cent of Rs 67.45 billion target.

Public sector banks have achieved 79.25 per cent of the credit target of Rs 371.74 billion. The private banks have fared better than their public sector counterparts with an achievement of 107.13. Private banks were given a target of Rs 62.66 billion and have disbursed 67.13 billion by the end of financial year

The Regional Rural Banks and Co-operative banks have clocked 101.69 per cent and 89.03 per cent of the target of Rs 38.23 billion and Rs 127.36 billion respectively.

The total outlay for credit requirement projections is an aggregation of the Potential Linked Credit Plans for 2017-18 prepared by the National Bank for Agriculture and Rural Development (Nabard) for all districts of the state.

For the financial year 2018-19, the target under annual credit plan is fixed at 714.20 billion which is distributed among the banks proportionate to their deposit base of in the respective districts at the end of the December 2017.