Chennai: Tamil Nadu's Annual Credit Plan (ACP) for the financial year 2026-27 has been set at more than ₹10.9 lakh crore, marking a 12% year-on-year increase from the previous year's ACP of ₹9.8 lakh crore. State Finance Minister N. Marie Wilson, chairing the 186th State Level Bankers' Committee (SLBC) meeting for Tamil Nadu, released the ACP for FY27 on Wednesday.
An official statement from Indian Overseas Bank, the SLBC convenor, confirmed on Thursday that against the ACP target of ₹9 lakh crore for FY26, the banking sector in Tamil Nadu achieved credit disbursements of ₹9.8 lakh crore, or about 109% of the annual target.
The minister expressed confidence that banks would again surpass the ACP target for FY27. Emphasizing educational loans, Wilson highlighted the need to support student aspirations and invest in human capital. Banks were advised to ensure timely sanction and disbursement of eligible education loan applications, simplify credit access for students, and enhance awareness programs among students, parents, and educational institutions.
The projected credit outlay for the current fiscal covers commercial banks, regional rural banks, and cooperative banks, with major allocations for agriculture, MSMEs, and other priority sectors. Agriculture received the highest allocation at over ₹6.5 lakh crore, followed by MSMEs at ₹3.9 lakh crore. Housing loans were allocated ₹14,642 crore, and education loans ₹2,223 crore.
The ACP aims to ensure adequate and timely institutional credit flow to all productive sectors, sustaining Tamil Nadu's strong growth momentum, the statement added.
