The Potential Linked Credit Plan (PLCP) for 2013-14 with the projected credit flow of Rs. 2691.67 crore of the National Bank for Agriculture and Rural Development (Nabard) was released by the District Collector, T.P. Rajesh, here on Wednesday.
The first copy of the plan was received by M. Karthikeyan, Zonal Manager, Indian Bank, Dharmapuri Circle, in the presence of G. Chidambaranathan, Assistant General Manager (DD) and D. Krishnadoss, Manager, Lead District Bank.
Releasing the PLCP, Mr. Rajesh appealed to the bankers to augment lending to support capital formation in agriculture along with increased credit flow for short-term farming activities.
Mr. Chidambaranathan indicated that the PLCP was redesigned with the objective of making it as one of the meaningful link between development planning and credit planning process that leads to action
The PLCP for the year 2013-14 projected a credit flow of Rs 2691.67 crore for priority sector, it was 33 per cent increase than the last financial year.
Crop loan formed 34 per cent and agricultural term loans formed 32 per cent of the total projections, giving the much needed thrust to agriculture sector with a share of 68 per cent in the total priority sector projections.
The projections under MSME was put at Rs. 332.38 crore for 2013-14.
N. Arumugam, Chief Manager, State Bank of India, and other officials from the banks participated in the meeting.