Kolkata: Hampered by the shocking record in priority segment lending in eastern region, Oriental Bank of Commerce (OBC) held a meeting of all the 44 section heads in the region including West Bengal, Sikkim and Assam to fix up schemes to raise the bank’s exposure towards this sector.

R.M. Sharma, General Manager of OBC in eastern region told, “This is in line with the Union Government’s policy laying thrust on priority sector lending. The branch heads have been asked t o swing into action on completion of the current exercise on the proper classification of the priority sector by July 20.”

OBC’s goal for priority sector lending in eastern region for 2007-08 has been determined at Rs 482 crore, which was up from Rs 380 crore in the corresponding year (2006-07).

Of this, the SSI segment would make up Rs 255 crore (Rs 188 crore), agriculture Rs 83 crore (Rs 70 crore) and retail credit covering housing and education loans Rs 40 crore (Rs 36 crore).

“We will also give a good deal of attention to lending to the SMEs such that the advances rise to Rs 510 crore in the current year from Rs 417 crore in 2006-07,” Mr. Sharma added.

While the majority of OBC’s subdivisions in eastern region were situated in urban and semi-urban regions, the bulk of the expected growth in the priority sector lending would be directed in the direction of SSI and retail loans classified as priority sector lending.