Rs 5.7 cr for capacity-based lending

National Bank for Agriculture and Rural Development (Nabard) has reserved Rs 5,723 crore towards capacity based lending for Kodagu district during 2020-21, said, Nabard District Development Officer P V Srinivas.

He was speaking during the district-level advisory committee meeting and the quarterly progress review meeting of various banks of the district, held at the Lead Bank Auditorium of Corporation Bank in Madikeri on Thursday.

Srinivas further stated that the funds are distributed among the agriculture, industries, education, housing, renewable energy sectors and basic infrastructure.

The distribution will be as follows: Agricultural sector - Rs 4,134.64 crore, Micro, Small and Medium Enterprises - Rs 522.53 crore, Export - Rs 444.32 crore, Education - Rs 238.50 crore, Housing - Rs 360 crore, Renewable energy - Rs 7.4 crore and Basic infrastructure - Rs 15.69 crore.

Loan disbursal

The achievement of banks in loan disbursal in priority sectors during the current year is Rs 1,705.90 crore which comes up to 38 %. For March 2020, the target in loan disbursal in priority sectors is Rs 4,500 crore and the banks should carry out all possible efforts to reach the target, he said.

Presiding over the meeting, Zilla Panchayat Chief Executive Officer K Lakshmipriya said that the bank officials should conduct public interaction meetings to popularise banking schemes. The dissemination of such information can be aired through media like radio, which has a wide reach in villages.

She released the book on Nabard’s capacity based loan scheme for 2020-21.

Corporation Bank Mysuru Division Deputy Director-General C V Manjunath said that the Lead bank should be able to achieve higher goals in the days to come. Reserve Bank of India officer Dattatreya said that the tri-monthly report on the progress achieved in the priority sectors should be submitted to the Lead Bank on time. This will help in carrying out discussions on various important subjects.