CM Naidu Releases Andhra Pradesh Annual Credit Plan for 2026-27
Vijayawada: Chief Minister N Chandrababu Naidu on Friday unveiled the Andhra Pradesh Annual Credit Plan for the fiscal year 2026-27, setting a target of Rs 8.10 lakh crore in total bank credit disbursement across various sectors. During the 235th State Level Bankers’ Committee (SLBC) meeting at the secretariat, Naidu urged bank representatives to align lending with priority areas while strengthening safeguards against financial fraud.
Priority Sector Allocation
Naidu announced that Rs 5.40 lakh crore would be allocated to priority sectors, including agriculture, while Rs 2.70 lakh crore would be directed to other sectors. He emphasized that the MSME sector is a top priority for the state government and called on banks to increase credit flow to foster entrepreneurship and job creation. Initiatives such as the ‘One Family–One Entrepreneur’ programme and innovation ecosystems like the Ratan Tata Innovation Hub (RTIH) require expanded institutional credit, he noted.
Monitoring and Education Financing
The Chief Minister directed officials and bankers to form a committee to monitor credit disbursement and non-performing assets (NPAs). On education financing, Naidu revealed that the state government is considering a 4 percent additional interest subvention on education loans, linked to the PM Vidyanidhi scheme, to support students pursuing higher education both in India and abroad.
Combating Digital Financial Crimes
Expressing concern over rising digital financial crimes, Naidu instructed banks to prepare a special standard operating procedure (SOP) to curb cyber frauds, including cases of “digital arrest.” He called for the establishment of central transaction monitoring cells and urged banks to respond swiftly to prevent fund losses. Noting a surge in digital fraud cases over the past three months, he stressed the need for awareness campaigns.
Support for Key Sectors
Naidu also called for increased credit support to sectors such as renewable energy, dairy, and aquaculture. He urged banks to fully implement central schemes including PM Surya Ghar and PM Vishwakarma. Regarding Amaravati, he directed banks allotted land in the capital to expedite construction of their offices in the financial district’s ‘Bank Street,’ with each institution developing an independent iconic building. He also asked the Reserve Bank of India to expand its operations in the state.
Senior officials, bankers, and representatives of regulatory institutions attended the meeting.
