TN’s ACP for FY27 fixed at ₹11 lakh crore

Chennai: Tamil Nadu’s Annual Credit Plan (ACP) for the financial year 2026-27 has been fixed at more than ₹10.9 lakh crore, marking a 12% year-on-year increase over the previous year’s ACP of ₹9.8 lakh crore.

State finance minister N Marie Wilson, who chaired the 186th State Level Bankers’ Committee (SLBC) meeting for Tamil Nadu, released the ACP for FY27 here on Wednesday.

An official statement issued by Indian Overseas Bank, the convenor of the SLBC, on Thursday said 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, representing about 109% of the annual target.

The minister expressed confidence that banks would once again surpass the ACP target set for FY27. Emphasising the importance of educational loans, Wilson underscored the need to support students’ aspirations and invest in human capital development. Banks were advised to ensure the timely sanction and disbursement of eligible education loan applications, simplify access to credit for students, and enhance awareness and outreach programmes among students, parents and educational institutions, the statement said.

The projected credit outlay for the current fiscal covers all commercial banks, regional rural banks and co-operative banks, with major allocations earmarked for agriculture, MSMEs and other priority sectors.

The agriculture sector received the highest allocation at more than ₹6.5 lakh crore, followed by MSMEs at ₹3.9 lakh crore. Housing loans were allocated ₹14,642 crore, while education loans were earmarked ₹2,223 crore.

The objective of the ACP is to ensure the adequate and timely flow of institutional credit to all productive sectors of the economy and sustain Tamil Nadu’s strong growth momentum, the statement added.