Indian Bank launches Rs 549.21 cr credit plan for UT

Puducherry, Mar 19 (UNI) Executive Director of Indian Bank A Subramanian today unveiled a Rs 549.21 crore annual credit plan for Union Territory of Puducherry.

Launching the credit plan at the state-level bankers committee meeting here, Mr Subramanian said banking sector in Puducherry was constantly performing well in the areas of credit disbursement.

Apart from Agriculture, focus had been on Small and Medium Enterprises (SMEs) and state sectors, he said adding that as majority of the population reside in urban areas, there was tremendous scope to widen the exposure of SMEs sector in general and service sector in particular.

He said tourism and hospitality industry were well poised for a higher growth.

Pointing out to the idea of "financial inclusion" which enables inclusive growth mooted out in November 2005, he said within a short span the task was accomplished, thus achieving the distinction of first in the country to have implemented 100 per cent finacial inclusion.

He said of the Rs 549.21 crore, agriculture would get Rs 156.41 crore (28 per cent), Non-farm sector Rs 135.53 crore (25 per cent) and service sector Rs 257.27 crore (47 per cent).

Speaking on the occasion, Puducherry Development Commissioner Naini Jayaseelan said the administration would introduce precision farming this year.

Calling up on the banks to provide loans for the development of precision farming scheme which would change the face of Puducherry, she said though rural sector, animal husbandry, education require proper attention, agriculture and allied sectors was very important.

UNI PAB ROY 1458