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Andhra CM Unveils State Credit Plan 2018-19

With an aim to improve banking services in the state, Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday unveiled the State Credit Plan (banking) 2018-19.

Under this plan, which was announced at the 203rd meeting of State Level Bankers Committee (SLBC) here, the state has been allocated as much as Rs.1,94,220 crores for its development and modernisation.

The Priority Sector, which includes agriculture and allied activities, micro and small enterprises, poor people for housing, students for education has been given Rs 1,44,220 crores.

On the other hand, the non-priority sector, under which financial institutions lend credit to bank customers, has been allocated Rs 50,000 crores, while Rs 10,457 has been allotted to heavy industries, and Rs 28,261 crores to Micro, Small and Medium Enterprises (MSMEs).

During the meeting, the issues pertaining to financial support, review of increasing rural banking, details of ATMs available to the public, review of PM Jan Shannon Yojana accounts, the study of the performance of Bank Mitra’s, leans to agriculture and allied sectors were discussed.

The SLBC also reviewed 39 issues existing in 20 major sectors.

In the last SLBC meeting, the bankers from across the state touched upon the issues of NTR Housing scheme, of MSMEs, service sector, industries, sub-committee on digital transactions etc.

The SLBC is an inter-institutional forum for coordination and joint implementation of development programmes and policies by the financial institutions operating in the state. The Committee meets once a quarter.

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