23 per cent increase in credit needs expected

Staff Reporter
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Potential-linked credit plan for Madurai district launched

The National Bank for Agriculture and Rural Development (NABARD) has projected the credit requirements of priority sectors in Madurai district to touch Rs. 3,489 crore in 2012-13, an increase of 23 per cent compared to the current fiscal in which Rs. 2,847-crore outlay has been prepared in the annual credit plan.

The NABARD's potential-linked credit plan (PLCP) for the next fiscal was launched by Collector U. Sagayam at the District Level Review Committee meeting for bankers held at the Collectorate here on Thursday with A.J. George, Assistant General Manager of Reserve Bank of India (RBI), receiving the first copy. According to R. Shankar Narayan, NABARD's Assistant General Manager, the PLCP had taken into account the potential available for development in all sectors and also the infrastructure available for exploiting the potential.

It projected that crop loans would increase from Rs. 1,232 crore in the preceding fiscal to Rs. 1,508 crore in 2012-13, which was in tune with the thrust of the Central government. Investment to the tune of Rs. 205 crore was expected to flow into the agro-processing sector.

Other Priority Sectors

Allocation for non-farm sector has increased to Rs. 448 crore from Rs. 362 crore. Other Priority Sectors, which include transport, retail trade, self employment, housing and caution loan, were expected to require Rs. 1,408 crore against Rs. 852 crore in 2011-12.

As per RBI guidelines, the PLCP would be the base document for preparing the Annual Credit Plan of the next fiscal.

Addressing the bankers and officers, Mr. Sagayam said that all departments and banks must cooperate to ensure the targets laid out were achieved, and ensure that the credit potential identified in the PLCP was fulfilled.

Emphasising on importance of credit to achieving integrated development of rural areas, the Collector also highlighted the need for timely purveying of agricultural credit to small and marginal farmers.




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