Business

Banks to lend Rs 2000 crore to Goa’s priority sector

Following instructions from the central government, banks in Goa have been given a lending target of more than 2000 crore in the priority sector-agriculture, food processing and animal husbandry for the financial year 2011-12.

This was announced at the 76th state-level bankers’ committee meeting held at the Secretariat in Porvorim on Wednesday. Chaired by Goa government secretary (finance) S Kumaraswami, the meeting- attended by senior bank managers-reviewed the performance of the annual credit plan.

The credit plan envisages the disbursement of loans set for the priority sector, which includes crop production, farm mechanisation, horticulture, wasteland development, small industrial units, and animal husbandry, including dairy farming and poultry and food processing. Besides, housing loans of less than 20 lakh and the implementation of various central and state government schemes also comes within the purview of the priority sector.

All the banks-nationalized, private, cooperative- and other financial institutions have already been asked by the central government to fulfill the credit requirements of the people in the state.

For the current year, the annual credit plan for North Goa is 1,243 crore and 862 crore for South Goa district. Kumaraswami urged all the banks to put in extra efforts to increase lending under agriculture and improve the credit deposit ratio. Officials said that the allocation for the state of Goa this year is 27% more than it was in the last financial year.

Regional director of RBI, Mumbai, J B Bhoria said that the sponsoring of allocations under the government-sponsored scheme should be stepped up to achieve year-end targets.

Deputy General Manager (agriculture) of SBI I R Reddy said the successful implementation of the annual credit plan would boost state productivity through improving employment opportunities and income generating activities. Prominent among those present were Mumbai SBI general manager Riten Ghose, Goa RBI general manager M A R Prabhu, Goa NABARD general manager S B Kulkarni and assistant general manager (lead bank) SBI, LHO, Mumbai C H Gaushal.

Lead district manager (North Goa) Shashank Shahane said that loans to the extent of 1,404 crore (86%) had been sanctioned by the end of December 2010, against the target of 1,625 crore fixed for the financial year 2010-11. “We are yet to get the final figures, but from the data coming in, I think the banks have been able to achieve the target set for them,” he told GoaChronicle.com

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