Syndicate Bank projects credit outlay of Rs 951 crore this fiscal
By Our Banking Bureau | 24 Mar 2003
This is Rs 105.48 crore higher than the credit outlay of Rs 845.57 crore for the previous year. The projected plan for the coming financial year indicates a growth of 12.47 per cent over 2002-03. Priority sector outlay indicated a growth of 15.21 per cent.
According to the document, which gives an indication of the financial involvement of banks in various development initiatives at the district level, the next year's plan focuses on agricultural-allied activities to the tune of Rs 196.08 crore.
The outlay for small-scale and tiny industry sectors has been projected at Rs 179.42 crore — 19 per cent of the total plan outlay.
The projection for the tertiary sector is Rs 277.19 crore — 29 per cent of the total credit outlay.
Under the tertiary sector, housing has taken up a major portion of the credit (Rs 115.24 crore). The projection for educational loans has been put at Rs 15.48 crore.
Projections for priority sector advances (Rs 652.69 crore) put the credit outlay at 69 per cent of the total credit as against 67 per cent under the earlier plan. Non-priority-sector advances at Rs 298.36 crore account for 31 per cent of the projected plan outlay.
