Banks in Odisha clock 63% of credit target by Dec

An employee counts rupee notes at a cash counter inside a bank in Agartala
Banks having operation in Odisha have achieved 63.33 per cent of the annual credit plan (ACP) of Rs 47,757.13 crore fixed for 2015-16 as on December 31, 2015.

The priority sector disbursement under various segments in the nine months of the fiscal stood at Rs 30,246.84 crore.

The achievement for the agriculture and allied sectors (direct) is Rs 15,698.73 crore, which is 59.86 per cent of the credit target of Rs 26,226.09 crore for the current financial year. Banks have advanced Rs 11,148.51 crore (59.84 per cent of the target) crop loan, Rs 1,241.19 crore (32.07 per cent) of term loan and Rs 1,690.73 crore ( 55.69 per cent) of allied loans, according to the latest data collated by State Level Bankers' Committee (SLBC), Odisha.

The credit to micro and small enterprises is calculated at Rs 10,784.56 crore (89.85 per cent) against the target of Rs 12,003.29 crore. Advances to education sector were abysmally low at 18.98 per cent of the targeted Rs 1,200.49 crore. Against an obligation to advance Rs 2,665.54 crore loan to the housing sector, the achievement was Rs 1,798.03 crore at the end of third quarter. As on December end, lending to other priority sectors stood at 30.69 per cent of the targeted Rs 5,661.72 crore.

Public sector banks have achieved 64 per cent of their target of Rs 25,902 crore. The private banks have outperformed their public sector counterparts with an achievement of 77.11 per cent. Private banks were given a target of Rs 3,244.74 crore and have disbursed Rs 2,502.07 crore loan by September end.

The Regional Rural Banks and co-operative banks have clocked 41.76 per cent and 73.33 per cent of their target of Rs 7,850.89 crore and Rs 10,758.85 crore respectively.

"In absolute terms, the credit disbursement is higher than what it was recorded in December, 2014. The banks have advanced Rs 19,203 crore as on December 2014, about 48 per cent of the target for 2014-15 while this year the achievement is a whopping Rs 30,246 crore, an achievement of 63 per cent. We are eyeing an achievement of at least 80 per cent by the end of the financial year", said a senior bank official.


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