Tamil Nadu - Nagapattinam   

Rs.771-cr. credit flow envisaged

MONEY MATTERS: Collector C. Munianathan, second from right, at the launch of the credit plan at Thirupugazhur in Nagapattinam.

NAGAPATTINAM: The Potential Linked Credit Plan (PLP) for Nagapattinam district for 2010-11 of National Bank for Agricultural and Rural Development was released by the Collector here recently at the District Consultative Meeting of Bankers at Thirupugazhur here.

The plan has projected a credit flow potential of Rs.771 crore and envisaged a credit flow of Rs.512 crore as short-term loans for crop production.

Term loans for agriculture and allied activities are projected at Rs.89 crore, non-farm sector at Rs.20 crore and priority sector lending (education, housing, SHGs etc) at Rs.150 crore. Lauding the comprehensiveness of the credit plan document of NABARD, Collector, C. Munianathan urged banks and government departments to utilise the benefits of the plan.

According to K. Venugopal, Assistant General Manager, NABARD, under the Rural Infrastructure Development Fund, NABARD has sanctioned 616 infrastructural projects in the district on an outlay of Rs.215 crore. This included infrastructure such as bridges, schools, roads, Adi Dravidar habitations etc.

As of September 2009, the deposits and advances of banks were pegged at Rs.2,806 crore and Rs.1,927 crore respectively.

Of this, the aggregate priority sector advances amounted to 60 per cent of the total advances.

The DCC meeting conducted an interface with the Village Poverty Reduction Committees. VPRCs functioning at the Panchayat level to identify poor and ultra poor, are constituted under the Vaazhndhu Kaatuvom Thittam, a World Bank sponsored pilot project on povery reduction. Collector C. Munianathan conducted an interface between the DCC and VPRCs in which over 38 VPRCs participated.

R. Muthusamy, Chief Regional Manager, Indian Overseas Bank, urged banks to incorporate the projections set by the PLP document of NABARD in their respective service area credit plans for 2010-11.

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Rs.771-cr. credit flow envisaged

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