Bankers’ committee raises State’s credit outlay to ₹10.98 lakh crore

The 186^th State Level Bankers’ Committee (SLBC) meeting for Tamil Nadu was convened by Indian Overseas Bank on Thursday.

During the meeting, Finance Minister N. Marie Wilson released the Annual Credit Plan (ACP) for the financial year 2026-27.

The ACP envisages a credit outlay of ₹10.98 lakh crore, representing a growth of around 12% over the previous year’s target, with the objective of ensuring adequate and timely flow of institutional credit to all productive sectors of the economy and sustaining Tamil Nadu’s strong growth momentum.

Against the ACP’s target of ₹9.00 lakh crore, the banking sector in Tamil Nadu achieved credit disbursements of ₹9.80 lakh crore, registering an achievement of about 109% of the annual target.

The performance of the banking sector under various Priority Sector segments, including Agriculture, MSME, Education, Housing, was reviewed in detail.

According to a statement, special emphasis was placed on educational loans. Banks were advised to ensure timely sanction and disbursement of eligible educational loan applications, simplify access to credit for students, and enhance awareness and outreach programmes among students, parents, and educational institutions.

SLBC Tamil Nadu reaffirmed its commitment to working in close coordination with the Government of Tamil Nadu, Reserve Bank of India, NABARD, and all stakeholders to ensure balanced economic growth.