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100 p.c. hike in ACP for Perambalur

Special Correspondent
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‘Kisan Credit Card, crop loan advances should at least be 35 p.c.’

Sri Raghuvatsa Chari, Chief Regional Manager, IOB, receiving the ACP document from Collector Darez Ahmed in Perambalur on Tuesday.
Sri Raghuvatsa Chari, Chief Regional Manager, IOB, receiving the ACP document from Collector Darez Ahmed in Perambalur on Tuesday.

The Annual Credit Plan (ACP) for 2013-14 for Perambalur district has been doubled, District Collector Darez Ahmed announced on Tuesday.

Releasing the plan, he pointed out that the ACP for the district for 2011-12 was Rs. 450 crore. It shot up to Rs. 949 crore next year. But since the performance had crossed Rs.1,250 crore, the target under the new ACP had been fixed at Rs. 1,900 crore.

The collector made it a point to specify that the agriculture advances extended through the Kisan Credit Card scheme\crop loan should be at least 35 per cent.

Besides, he was categorical that the banks should be meticulous in extending agricultural jewel loans. They should ensure that the interest subvention extended by the Reserve Bank of India and the National Bank for Agriculture and Rural Development is properly implemented.

Under the current ACP, agriculture would get the lion’s share of Rs.1,463 crore. For small and medium enterprises, the target had been fixed at Rs. 133 crore, and other priority sectors would get Rs. 304 crore.

Sri Raghuvatsa Chari, chief regional manger, Indian Overseas Bank, who is the convener, said that the Government of India had announced direct money transfer to beneficiary account-holders under all government schemes, including LPG subsidy, hence 100 per cent financial inclusion should be achieved by all banks at the earliest.

He also urged the branch managers to insure all notified crop loans, including agriculture jewel loans, under the Weather-Based Crop Insurance Scheme. He pointed out that the State-level Bankers’ Committee had informed the lead bank that all villages, irrespective of the population, should be covered under financial inclusion as per Government of India guidelines.

Mr. Chari said that the Union Finance Ministry had advised all banks to launch an action plan to improve lending to agriculture, particularly crop loans, to increase agricultural produce, for improving the gross domestic product. “The target is to ensure that each farmer gets an agriculture credit limit. By this all banks should ensure that money lent to agriculture sector should be utilised only for agriculture purposes. He wanted all banks to enhance direct agriculture lending to farmers in their service area village by granting crop loans or any other agricultural loans. “Lending under Agricultural Jewel Loan scheme should only supplement the needs of the farmer and not substitute agriculture credit .”

Pointing out that some banks had already conducted direct agricultural loan mela, he urged other banks to follow suit. As Permabalur district is one of the districts identified by for poultry development (broiler chicken) with plenty of scope for development, only term loans should be provided by the banks for construction of shed. All other requirements from supply of chicks to lifting and marketing of grown-up chicken would be taken care of by the integrators.

He also said that the district administration had requested banks to open “”no-frill”” account for all beneficiaries of the National Rural Employment Guarantee Scheme, the differently abled, labourers, HIV -infected persons, and old age pensioners. Those who took part in the function included N. Kothandapani, District Development Manager, NABARD, and S. Chadrasekaran, Lead District Manager.


  • ‘Be meticulous in giving agriculture jewel loans’

  • All villages should be covered under financial inclusion


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