December 20, 2024: The 180th State Level Bankers’ Committee (SLBC) meeting for Tamil Nadu was successfully conducted by Indian Overseas Bank, the Convenor of SLBC Tamil Nadu, on December 19, 2024, in Chennai. Thiru Thangam Thennarasu, Hon’ble Minister for Finance and Human Resources Management, Government of Tamil Nadu (GoTN), graced the event as the Chief Guest.
Prominent dignitaries present included:
• Thiru.Dhanaraj T, Executive Director, Indian Overseas Bank, and Chairman, SLBC Tamil Nadu
• Thiru T. Udhayachandran, IAS, Principal Secretary, Department of Finance, GoTN
• Smt. Uma Sankar, Regional Director, Reserve Bank of India
• Thiru R. Anand, Chief General Manager, NABARD
• Secretaries and Department Heads of various GoTN departments
• Senior executives from RBI, NABARD, state government, and banks
• Collectors and Lead District Managers (LDMs) from all districts of Tamil Nadu
In his keynote address, the Hon’ble Finance Minister commended the banking fraternity for achieving an impressive 127.28% Credit Deposit (CD) Ratio as of September 30, 2024. He also highlighted the commendable progress in achieving 51.39% of the Annual Credit Plan (ACP) target for FY 2024-25 during the second quarter.
The Minister applauded the launch of innovative state government schemes in 2024, such as Kalaignar Kaivinai Thittam (KKT) and Kalaignarin Kanavu Illam, which reflect the state’s commitment to inclusive development. He noted that credit to women constitutes 20.09% of total advances and urged banks to enhance lending to Self-Help Groups (SHGs).
During the meeting, the Convenor of SLBC Tamil Nadu, Thiru Reyaz Ul Haque, General Manager, Indian Overseas Bank, presented key agenda items. Discussions centered on Priority Sector Lending, including Agriculture, MSMEs, Educational Loans, Housing Loans, and loans to women borrowers, weaker sections, minorities, and SC/STs.
The meeting also highlighted the Achievement of Rs. 4,15,623.46 crore under the Annual Credit Plan (ACP) for the quarter ended September 2024, representing 51.39% of the annual target of Rs. 8,08,744.58 crore for FY 2024-25.
The SLBC meeting serve as a platform for productive discussions to further the socio-economic growth of Tamil Nadu through focused financial inclusion and lending initiatives.
