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Andhra Pradesh approves annual credit plan with Rs 1.25 lakh crore

Credit plan targets include Rs 65,272 cr for agriculture sector

BS Reporter  |  Hyderabad 

Chandrababu Naidu

Andhra Pradesh chief minister N Chandrababu Naidu launched the state credit plan for 2015-16 with a total target of Rs 1,25,748 crore at a state level bankers committee meeting held on Monday. The credit plan target includes Rs 65,272 crore for agriculture sector, Rs 16,960 crore for SMEs and Rs 14,688 crore for other priority sector.

The chief minister suggested to the bankers to constitute six separate sub-committees for agriculture, horticulture, livestock, fisheries, MSME and affordable housing sectors in order to give thrust to economic activity.

He also told bankers to adopt interoperability for business correspondents so that they can handle the services of multiple banks for efficiency optimisation.

“This can enable us to disburse pensions in an efficient way. Eventually, this will help us become a cashless economy through financial inclusion,” the chief minister said.

First Published: Mon, June 29 2015. 20:43 IST