Potential Linked Credit Plan (PLP) for Tiruvannamalai district prepared by the NABARD says that there is a potential for bankers in the district to lend as much as Rs.1,637.7 crore to priority sectors during the next fiscal, 2012-13.
PLP gathers importance as it forms basis for allocation of lending targets for various bank branches in the district when drafting Annual Credit Plan for 2012-13.
Collector Anshul Mishra released the PLP at the Collectorate on Thursday. S.T. Sudarsan, Assistant General Manager, NABARD, Tiruvannamalai district, in a release said the PLP has been finalised after consulting several State government departments, bankers and NGOs operating in the district.
“The PLP has been prepared taking into account the present and future infrastructure, policy initiatives of the government, thrust areas identified for development and the strengths and weaknesses of financial institutions. It also highlights the initiatives and support required to realise the potential,” Mr. Mishra said.
Bankers in the district, including119 branches of the 22 public/ private sector banks, four branches of Pallavan Gramin Bank (A Regional Rural Bank), Tiruvannmalai District Cooperative Bank functioning through a network of 26 branches and 159 Primary Coop Credit Societies and eight branches of Tamil Nadu Cooperative Agricultural and Rural Development Bank, could convert the potential into credit opportunity, Mr.Sudarshan said in the release.
“The projection for 2012-13 shows an overall increase of 22 per cent over the current year's credit plan target of Rs.1339.38 crore fixed for the banks,” he said.
Being predominantly an agricultural district, farm sector's share in the credit potential as per the PLP is Rs. 1121.45 crore (68.5%).
Potential for giving term loans for making agriculture based investments is put at Rs.277.77 crore.
Micro Small and Medium Enterprises (MSME) sector has been predicted to have potential for receiving Rs.62.3 crore lending (3.8%). The PLP envisages that other priority sector loans like retail trade, small business, educational loans, housing loans, consumer loans etc. could be given to the tune of Rs.226.17 crore.