Chennai: NABARD Estimates Priority Sector Credit Potential – 2022-23 for Tamil Nadu at Rs.4.13 lakh Cr
The State Focus Paper, 2022-23, Tamil Nadu prepared by National Bank for Agriculture andRural Development (NABARD) was launched by Dr. Palanivel Thiaga Rajan Avl. Hon’bleMinister. Finance, Planning and Human Resources Management, GoTN at the State Credit Seminar held on 14 December 2021. Shri. Shanti Lal Jain, MD & CEO, Indian Bank,Shri.A.K.Srivastava, ED, Indian Overseas Bank, Shri.S.M.N.Swamy, RD, RBI, Senior Govt.Officials, Senior Bankers, NBFCs and representatives from Agriculture, Animal Husbandry, Fisheries Sector attended the meeting.
The State Focus paper is prepared by NABARD annually wherein the potential for the state inboth financial and physical terms is quantified by a bottom-up approach by aggregating the district wise Potential Linked credit plan prepared in consultation with the stakeholders at the district level. The paper is prepared for the next financial year to enable banks to prepare the credit plans as also the State in their planning and budget exercise.
Shri T Venkatakrishna, Chief General Manager, NABARD, Tamil Nadu Regional Office presented the State Focus Paper 2022-23 which estimates an exploitable Priority Sectorcredit potential of ₹ 4.13 lakh crore, an increase of 20% over the projections madefor 2021-22 (₹ 3.43 lakh crore). Agriculture Credit is estimated at ₹ 1.83 lakh crore (44%).MSME sector at ₹.1.31 lakh crore (32%) and other sectors ₹0.99 lakh crore (26%). The SFP has also highlights the infrastructure gaps under various sectors, which may be addressed by the State Govt.
Hon’ble Finance Minister appreciated NABARD’s role in taking a proactive role in financingrural infrastructure and increased lending by banks in the State. He advised the banks to emphasize on granular micro focused lending to all the stakeholders of society and the importance of ground level data for a data centric governance.
NABARD credit support in the State was to the tune of ₹27,135 crore during 2020-21 and in the current year it is targeted higher at ₹40,000 crore.
On the occasion, Indian Bank, IOB, Canara Bank, ICICI Bank, HDFC Bank, Axis Bank, TamilNadu Corporation for Development of Women (TNCDW), Tamil Nadu State Cooperative Bank, Tamil Nadu Grama Bank, Puduvai Bharathiar Grama Bank, Tiruchirappalli, Tiruvannamalai and Vellore DCCBs were awarded for their performance under various categories