Puducherry, India | June 2026 — Indian Bank, the convenor of the State Level Bankers Committee (SLBC) for the Union Territory of Puducherry, successfully conducted the SLBC Meeting 2026, during which the Annual Credit Plan (ACP) 2026–27 was officially released. The meeting also witnessed the signing of a significant Memorandum of Understanding (MoU) for land allotment to the Rural Self Employment Training Institute (RSETI), reinforcing efforts toward skill development and entrepreneurship promotion in the region.
The event brought together senior representatives from the Government of India, the Government of Puducherry, and the banking sector to discuss strategies for strengthening financial inclusion, expanding credit access, and supporting sustainable economic growth.
Senior Officials Participate in the Meeting
The meeting was held in the virtual presence of several distinguished dignitaries, including:
- Shri Ashish Madhaorao More, I.A.S., Joint Secretary, Department of Financial Services, Ministry of Finance, Government of India
- Shri Krishna Mohan Uppu, I.A.S., Secretary (Finance), Union Territory of Puducherry
- Shri Shiv Bajrang Singh, Executive Director of Indian Bank and Chairman of SLBC Puducherry
- Senior officials from leading banks and financial institutions operating in the Union Territory
The participation of key stakeholders highlighted the importance of coordinated efforts between government agencies and financial institutions in achieving inclusive development goals.
Annual Credit Plan 2026–27 Released
A major highlight of the meeting was the formal release of the Annual Credit Plan (ACP) 2026–27, which outlines the banking sector’s lending roadmap for the upcoming financial year.
The plan is designed to:
- Enhance credit flow across priority sectors
- Support agriculture, micro and small enterprises, education, housing, and allied sectors
- Promote financial inclusion among underserved communities
- Strengthen regional economic development
- Encourage investment and employment generation
The ACP serves as a strategic framework for banks operating in Puducherry and aims to ensure that adequate financial resources reach key sectors contributing to economic growth.
MoU Signed for RSETI Land Allotment
Another significant development during the event was the exchange of a Memorandum of Understanding (MoU) related to the allotment of land for the Rural Self Employment Training Institute (RSETI) in Puducherry.
The initiative marks an important step toward expanding entrepreneurship and livelihood opportunities in the region.
The proposed RSETI facility will focus on:
- Skill development and vocational training
- Entrepreneurship promotion
- Self-employment generation
- Capacity building for rural youth
- Financial literacy and business development support
The institute is expected to provide aspiring entrepreneurs with practical skills and training that can help them establish sustainable businesses and improve their economic prospects.
Strengthening Financial Inclusion and Economic Empowerment
Officials emphasized that the collaboration between the banking sector and government institutions is essential for achieving long-term economic development objectives.
Through the expansion of RSETI programs and the implementation of the Annual Credit Plan, stakeholders aim to create a stronger ecosystem for entrepreneurship, employment, and inclusive growth.
The initiatives are expected to:
- Improve access to institutional credit
- Encourage startup and micro-enterprise development
- Generate employment opportunities
- Support rural and semi-urban economic advancement
- Promote financial awareness and empowerment
Indian Bank’s Continued Commitment to Development
As the lead bank for the SLBC Puducherry, Indian Bank continues to play a vital role in aligning banking services with national and regional development priorities.
The bank has been actively involved in promoting financial inclusion, supporting government welfare initiatives, and facilitating credit access for individuals, businesses, and entrepreneurs across the country.
By coordinating efforts through the SLBC platform, Indian Bank helps ensure that financial resources are effectively deployed to sectors that drive economic and social progress.
Conclusion
The release of the Annual Credit Plan 2026–27 and the signing of the RSETI land allotment MoU represent important milestones for Puducherry’s development agenda. These initiatives are expected to strengthen the region’s financial ecosystem, enhance access to credit, promote entrepreneurship, and create new opportunities for skill development and self-employment.
With continued collaboration between Indian Bank, government authorities, and financial institutions, Puducherry is poised to advance its vision of inclusive growth, economic empowerment, and sustainable development in the years ahead.
