Indian Overseas Bank released Annual Credit Plan for FY2025; Set target of Rs 8,08,745 cr

Chennai: The 178th State Level Bankers’ Committee (SLBC) meeting for the state of Tamil Nadu was successfully conducted by the Indian Overseas Bank – Convenor, under the esteemed Chairmanship of Thiru Thangam Thennarasu, Hon’ble Minister for Finance, Human Resources Management, Government of Tamil Nadu (GoTN), at the Secretariat in Chennai.

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The meeting saw the presence of several distinguished dignitaries, including:

- Thiru Joydeep Dutta Roy, Executive Director, Indian Overseas Bank & Chairman, SLBC, Tamil Nadu

- Thiru T Udhayachandran, IAS, Principal Secretary to Government, Department of Finance, GoTN

- Smt. Uma Sankar, Regional Director, Reserve Bank of India

- Thiru R Anand, Chief General Manager, NABARD

- Thiru V V S Kharayat, DFS, Government of India

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Secretaries and Department Heads of various GoTN departments, along with senior executives and officials from the Reserve Bank of India (RBI), NABARD, State Government, Banks, and Lead District Managers (LDMs) of all districts in Tamil Nadu, also participated.

During the meeting, key agendas under Priority Sector Advances were discussed, with a focus on Agriculture, MSME Lending, Educational Loans, and Housing Loans. These discussions were presented and deliberated by the Convenor of SLBC, Thiru Mohan M, General Manager, Indian Overseas Bank.

A significant highlight of the meeting was the release of the Annual Credit Plan for the Financial Year 2024-25 by Thiru Thangam Thennarasu. The Annual Credit Plan has set a target of Rs. 8,08,745 crores under Priority Sector Lending for FY 2024-25, estimating a growth of 21.80% over the previous financial year 2023-24.

The SLBC meeting reaffirmed the commitment of all stakeholders to foster financial inclusion and economic growth in Tamil Nadu through concerted efforts in priority sector lending.

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