Prakasam District Achieves 93.5% of Annual Credit Target

Prakasam District Achieves 93.5% of Annual Credit Target

30 March 2024Prakasam district in ONGOLE has made significant progress in reaching its annual credit target, with 93.5% of the targeted amount disbursed by bankers under various government schemes and programmes.

Review Meeting and Progress: Collector AS Dinesh Kumar conducted a review meeting with District Level Bankers Committee (DLBC) representatives, assessing the district’s progress towards its annual credit plan targets.

Loan Disbursement Achievements:

  • Bankers disbursed 105.69% of targeted loans, amounting to Rs 232.75 crore distributed to 10,511 farmers.
  • MEPMA SHG received 340.08% of the target loan, while DRDA SHG received 78.79% of the targeted financial assistance.
  • The district has achieved 93.5% of its credit target, with Rs 16,819 crore worth of loans disbursed out of the total target of Rs 17,988 crore set by DLBC.

Non-Planned Sectors: Bankers exceeded the fixed target by providing 142.65% of loans in the non-planned sectors.

The banking authorities plan to continue supporting young entrepreneurs, agricultural entrepreneurs, and affiliated sector entrepreneurs through initiatives like the Prime Minister’s Employment Generation Programme.


Conclusion:

Prakasam district’s achievement of 93.5% of its annual credit target reflects proactive efforts by authorities and bankers in facilitating financial support to various sectors, fostering economic growth and entrepreneurship in the region.