Tamil Nadu Achieves 51 pc of Annual Credit Plan Target in Q2 FY25

ENA State 2024-12-20 17:08:11 Chennai, 20 Dec (KNN) Tamil Nadu has reached 51.4 per cent of its annual credit plan (ACP) target, disbursing Rs 4,15,623 crore during the quarter ending September 2024. The state's priority sector lending target for the fiscal year 2024-25 has been set at more than Rs 8 lakh crore, marking significant progress in financial inclusion efforts. State Finance Minister Thangam Thennarasu, addressing the 180th State Level Bankers' Committee (SLBC) meeting on Thursday, reported that banks had achieved a Credit Deposit (CD) ratio of 127.9 per cent as of September 30, 2024. The minister highlighted that women borrowers accounted for 20 per cent of total advances during this period. The state's commitment to inclusive development was emphasised through the launch of innovative schemes in 2024, including the Kalaignar Kaivinai Thittam and Kalaignarin Kanavu Illam programs. According to a statement from Indian Overseas Bank, the SLBC convenor for Tamil Nadu, the minister urged banks to increase lending support for self-help groups (SHGs). The SLBC meeting focused on various aspects of priority sector lending, encompassing agriculture, MSMEs, educational loans, housing loans, and financial support for specific segments including women borrowers, weaker sections, minorities, and SC/ST communities. These discussions underscore the state's continued focus on broad-based financial inclusion and economic development. (KNN Bureau) 40333 https://knnindia.co.in/news/newsdetails/state/tamil-nadu-achieves-51-pc-of-annual-credit-plan-target-in-q2-fy25 2024-12-20 17:08:11 knnindia.co.in Tamil Nadu Achieves 51 pc of Annual Credit Plan Target in Q2 FY25