Ballari releases Rs 14,248 crore annual credit plan

Ballari: The annual district credit plan for 2026-27, with a total outlay of Rs 14,248.7 crore, was released on Friday, marking a 16.1% increase over the previous year, with a strong thrust on agriculture and MSMEs to drive economic growth.The plan was unveiled by deputy commissioner Nagendra Prasad K and ZP CEO Mohammed Haris Sumer at DC's office in the newly constructed district administrative complex. The initiative, prepared by lead bank Canara Bank, aims to boost sectoral lending and strengthen priority sector outreach.As per the plan, agriculture has been allocated the largest share at Rs 6,231.7 crore, accounting for 43.7% of the total outlay. The MSME sector has been earmarked Rs 3,630 crore to encourage industrial activity in the district.Overall, 70.9% of the total credit, amounting to Rs 10,111.4 crore, was set aside for priority sectors. Education and housing sectors have been allocated Rs 44.5 crore and Rs 173.1 crore, respectively.Reviewing the previous year's performance, officials highlighted robust banking growth in the district. Total deposits stood at Rs 21,858.2 crore, reflecting a growth of 16.2%, while total advances reached Rs 19,312.8 crore.The credit-deposit ratio stood at 88.3%. Against a target of Rs 12,263 crore for 2025-26, banks disbursed Rs 13,138.7 crore, achieving 107.1% of the target, lead district manager Girish V Kulkarni said.The deputy commissioner stressed the need for effective implementation of central schemes such as PMFME, PMEGP and PM SVANidhi, noting that better coordination between banks and govt departments could help surpass targets this year as well.ZP CEO Mohammed Haris Sumer urged bankers not to insist on collateral security for small loans and govt-sponsored schemes, underlining that timely credit flow would play a crucial role in addressing unemployment in the district.Senior officials from various banks and departments, including Canara Bank regional manager Arun Kumar AG, divisional manager Upendra Singh, Union Bank's G Rajesh, KGB senior manager Chandrappa, SBI chief manager Nagaraju, Indian Overseas Bank senior manager Mahantesh T, HDFC Bank head Ramesh Jonal, cluster head Nand Kishore, BDCC Bank manager Naseer Ahmed and RSETI director Rajasab, were present.