Focus attention on rural non-farm sector, Collector urges banks
TIRUVANNAMALAI: The Annual Credit Plan (ACP) for Tiruvannamalai district, prepared by the banks in the district, envisaging a total outlay of Rs.687.80 crore for 2007-08 was launched by Collector Satyabrata Sahoo here on Thursday.
The Collector urged the banks to focus on the small and medium enterprises (SME) sector by disbursing more credit to the rural non-farm sector. Acknowledging that the banks have done well in achieving the targets under government-sponsored schemes during the current year, the Collector said the State Government has proposed to assist farmers to adopt water conservation by offering 50 per cent subsidy for drip irrigation for sugarcane and other crops.
He wanted the banks to encourage the farmers by disbursing the needed credit for installation of the drip irrigation system as well as for potential sectors such as horticulture and land development.
M. Kathiresan, Circle Head, Indian Bank, Vellore said the branch credit plans under the lead bank scheme are prepared on the basis of potential assessed in the Potential-Linked Plan (PLP) of the National Bank for Agriculture and Rural Development.