labels: banks & institutions
Banks to double farm credit in Kerala news
Our Banking Bureau
25 June 2004

Thiruvananthapuram: Banks are planning to double agricultural credit disbursements in Kerala within the next three years.

Agricultural lending will be raised by 30 per cent during the current financial year. To work out the exact modalities of the programme, a meeting of the State Level Bankers Committee (SLBC) will be held on June 30 under the chairmanship of the chief minister, A.K. Antony.

These decisions were taken at the 84th meeting of SLBC held here on Thursday. The industries minister, P.K. Kunhalikutty, inaugurated the meeting, which was chaired by MN. Kanthakumar, executive director of Canara Bank.

It was decided at the meeting that the "Akshaya" project of the state government will be implemented throughout the state with financial assistance from banks. Besides, a scheme for setting up crèche/day care centres will be taken up by the banks in consultation with the social welfare department.

Another decision was for launching a scheme by "Kudumbashree" for creating employment opportunities to 50,000 youth with credit linkages with banks. The meeting felt that private sector banks, especially new generation ones, should improve lending to the priority sectors such as agriculture, small-scale industries and the weaker sections.


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Banks to double farm credit in Kerala