MSMEs Figure At The Top in Coimbatore Credit Outlay Plans | SupportBiz

News

MSMEs Figure At The Top in Coimbatore Credit Outlay Plans

 
Raj Narayan's picture
Tags: Bank credit
Credit outlay plans are created by a consortium of banks based on the level of credit utilization over the previous plan period as well as schemes prepared by central and state governments.

Coimbatore: With a view to bolster enterpreneurship and productivity, the annual credit plan for the district has been hiked by over 21 per cent over the previous year, with the highest increase being apprtioned for the small and medium enterprises (MSME). 

The annual central plan of the district worked by out Canara Bank in its capacity as the lead bank of Coimbatore district has set aside a sum of Rs.4168 crore for the SME sector, an increase of 23 per cent over last year's plan size. 

Overall, the district credit outlay for fiscal year 2014 has been fixed at Rs.10,226 crore which represents an increase of 21.3 per cent over the current financial year. The annual credit plans are prepared based on the potential linked credit plan prepared by NABARD. 

The plan takes into account the level of achievement of the previous credit plan and various credit-linked subsidy schemes of the central and state governments. 

The banks which participated in the credit outlay program included State Bank of India, Indian Bank, Indian Overseas Bank and Canara Bank as the lead. 

The plan envisages highest share of 42 percent for agriculture, followed by 41 % for SME sector and 17 percent for other priority sectors.