Tamil Nadu has achieved 51% of annual credit plan target: Finance minister

CHENNAI: Tamil Nadu has achieved 51.4% of its annual credit plan (ACP) target amounting to Rs 4,15,623 crore during the quarter ended Sept 2024. More than Rs 8 lakh crore has been fixed for the state under the priority sector lending for the current financial year of FY25.

State finance minister Thangam Thennarasu told the 180th State Level Bankers’ Committee (SLBC) meeting here on Thursday that 127.9% Credit Deposit (CD) ratio had been achieved by banks as of Sept 30, 2024.

Noting that 51.4% of the ACP target for the fiscal 2024-25 was recorded during the second quarter, he said credit for women constituted 20% of total advances.

Launch of innovative state government schemes in 2024 such as Kalaignar Kaivinai Thittam and Kalaignarin Kanavu Illam reflected the state’s commitment to inclusive development, he added.

The minister sought banks to enhance lending for self-help groups (SHGs), a statement from Indian Overseas Bank, which is the convenor of SLBC Tamil Nadu, said.

Discussions in the meeting centred on priority sector lending, including agriculture, MSMEs, educational loans, housing loans and loans for women borrowers, weaker sections, minorities and SC/STs, the statement further said.


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