Canara Bank - Launching of State Level Annual Credit Plan 2020-21

The 150th SLBC meeting was held on Friday,19th June 2020 in the Conference Hall, Vidhana Soudha, Bengaluru. The meeting was Chaired by Shri.T. M Vijay Bhaskar, Chief Secretary, GoK. Smt. Vandita Sharma, ACS & DC, GoK, Sri. Jose J. Kattoor, Regional Director, RBI, Sri. H R Srivatsa, General Manager, NABARD, Ms. A. Manimekhalai, Executive Director, Canara Bank and Sri. T Manivannan, Convenor-SLBC, Secretaries and Senior level officials of various line departments of GoK and Executives of member Banks were attended the meeting.

LAUNCHING OF ANNUAL CREDIT PLAN FOR THE FY - 2020-21:

The Annual Credit Plan for the Financial year 2020-21 was launched by Sri. T M Vijay Bhaskar, Chief Secretary, GoK in the august presence of other dignitaries.

The Executive Director Ms. A. Manimekhalai informed that the total projection of Rs. 2,55,940 cr has been arrived under Priority Sector Credit as compared to previous year's plan of Rs. 2,12,517 Cr showing an increase of 20.43%. Which comprises projections under Agriculture credit is Rs. 1,12,199 Cr, under MSME is Rs. 93,088 Cr, under Education is Rs. 5,805 Cr, under Housing Loan Rs. 27,055 Cr and towards other Priority sectors is Rs. 10,754 Cr. She appealed to all the Bankers that, to put all out efforts not only for achieving the set targets but also to surpass the same well before March 2021.

PERFORMANCE UNDER ANNUAL CREDIT PLAN 2019-20:

The house reviewed the performance under Annual Credit Plan 2019-20 and appreciated banks and expressed the happiness that the Banks have disbursed Rs. 2,00,118 Cr. as against the annual target of Rs. 2,12,517 Cr. Under Priority Sector Credit recording an achievement level of 94.17% during 2019-20. The house appreciated the Banks for achieving 79.64% under Agriculture and allied sector and 170.24% under MSME against targets.

As on March 2020, Karnataka State has secured 3rd position at all India level with respect to Mudra loan disbursement (Rs. 30,186 Cr) next to Tamil Nadu (Rs. 35,006 Cr) and Uttar Pradesh (Rs. 30,949 Cr).

The Chief Secretary, GoK has reviewed the performance of implementation of Central and State Govt. Sponsored Schemes in banking sector.

Shares of CANARA BANK was last trading in BSE at Rs.107.4 as compared to the previous close of Rs. 103.4. The total number of shares traded during the day was 2018393 in over 10506 trades.

The stock hit an intraday high of Rs. 108.45 and intraday low of 103.4. The net turnover during the day was Rs. 215704788.

Source : Equity Bulls

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