The National Bank for Agriculture and Rural Development (NABARD) has projected ₹2,643 crore for priority sector lending in the Union Territory for 2017-18. The projected credit was seven per cent more than the previous financial year.
S. Nagoor Ali Jinnah, Chief General Manager, NABARD, said the credit plan was prepared with an aim to double farmers’ income by 2022 as envisaged by the Union Government. The plan document, prepared in consultation with government departments, banks and other stakeholders, had earmarked 44 per cent for agriculture sector, 21 per cent for micro, small and medium enterprises, 21 per cent for exports, education, housing and 14 per cent for social infrastructure.
Minister for Revenue M.O.H.F Shahjahan released the plan document at the State Level Bankers Committee meeting held here recently.
Development Commissioner G. Narendra Kumar received the first copy of the plan document. Chief Executive Officer of Indian Bank, M. K Jain, General Manager of Reserve Bank, Mohana, General Manager R. Manimaran and Zonal Manager and convenor of SLBC D. Devaraj were among those attended the meet.