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Major share of Cuddalore annual credit plan for farm sector

Special Correspondent
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Collector R. Kirlosh Kumar releasing the Annual Credit Plan for 2013-14 in Cuddalore on Wednesday.—Photo:C. Venkatachalapathy
Collector R. Kirlosh Kumar releasing the Annual Credit Plan for 2013-14 in Cuddalore on Wednesday.—Photo:C. Venkatachalapathy

Bankers in Cuddalore district have decided to raise the credit limit to various sectors to Rs. 3,722.33 crore for the financial year 2013-14.

This would be 21.45 per cent higher than what was sanctioned in 2012-13. The Annual Credit Plan (ACP) that facilitates sector-wise and bank-wise allocation for the purpose was released on Wednesday by Collector R. Kirlosh Kumar at a special bankers’ meeting held at his camp office here.

The Collector lauded the efforts of the Lead Bank (Indian Bank) in preparing a detailed document that would be useful for the bankers, government officials and other stake-holders.

Mr. Kumar noted that since economy of the district was basically agrarian, a lion’s share of the ACP amounting to Rs. 2,859.38 crore had been earmarked for the agricultural sector, forming 76.81 per of the total financial outlay.

The allocation for industrial and service sectors was Rs. 144.18 crore and Rs. 718.77 crore respectively, accounting 3.88 per cent and 19.31 per cent of the Plan size. As such, the service sector would get a major thrust.

The ACP had also made provision for a sum of Rs. 331.05 crore to be allocated to various government programmes meant for the uplift of the poor and the downtrodden.

The financial outlay would be shared by bankers as follows: commercial banks – Rs. 2,957.15 crore, co-operative banks – Rs. 514.43 crore, regional rural bank – Rs. 245.80 crore and the Tamil Nadu Industrial Investment Corporation – Rs. 4.95 crore.

Lead District Manager R. Sethuraman said that updating the data on village resources and dissemination of such information to field-level functionaries to prepare the branch credit plan were the two important requirements of the ACP exercise.

Mr. Sethuraman further said that based on the branch credit plan, block-level and district-level credit plans were finalised. The ACP had been prepared in synchronisation with the potential linked credit plan prepared by the NABARD.

R. Manimaran, Zonal Manager, Indian Bank, Cuddalore, S.Rajagopalan, and Assistant General Manager, NABARD, were present.

The Collector handed over “sanction tickets” from Indian Bank to 29 students for educational loans to the tune of Rs. 50.52 lakh.

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