Bihar sets Rs 4.95 lakh crore annual credit target for 2026-27

The Bihar state government has established an Annual Credit Plan target of Rs 4.95 lakh crore for the 2026-27 financial year. During a high-level committee meeting chaired by Development Commissioner Mihir Kumar Singh, banks were directed to accelerate lending to priority sectors, including agriculture, startups, and micro, small, and medium enterprises (MSMEs).

To improve oversight, the government introduced a 100-point scientific measurement index to rank and assess the performance of banks operating within the state. Banks have also been instructed to clear pending loan applications and reduce rejection rates to meet targets in mission mode.

As of the end of the September quarter, banks had disbursed Rs 1,89,343 crore, reaching 38.25 per cent of the annual target. This figure marks an increase of Rs 46,228 crore compared to the same period in the previous financial year. Sector-specific data shows MSME credit disbursement at 52.68 per cent of its target, while agriculture lending reached 28 per cent.