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Rs.1,030-crore plan for Karur

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Mission statement: Karur MP K.C. Palanisamy, right, releasing the Annual Credit Plan, 2008-09 to Collector T.N. Venkatesh in Karur.
Mission statement: Karur MP K.C. Palanisamy, right, releasing the Annual Credit Plan, 2008-09 to Collector T.N. Venkatesh in Karur.

Staff Reporter

An increase of 20 per cent over the current year’s projections

KARUR: The Annual Credit Plan 2008-09 for Karur district sets out an ambitious target of Rs.1,030.61 crore as priority sector advance. Member of Parliament K.C. Palanisamy released the plan document and the District Collector T.N. Venkatesh received the first copy at a function here on Tuesday. The fourth district level review committee meeting coincided with the occasion. As per the Annual Credit Plan 2008-09, Mr. Venkatesh said that credit for priority sector advance was put at Rs. 1,030.61 crore. That included Rs.407.76 crore for agriculture, Rs.476.49 crore for industries and Rs.146.36 crore for other priority sectors.

The plan projected an increase of around 20 per cent over the current year’s projections, he added. It also projects a target of Rs.26.00 crore for SHG credit linkage.

The Collector pointed out that up to the third quarter ending December 2007, against the proportionate target of Rs.630 crore, the banks have disbursed Rs.636 crore under priority sector advance under the current 2007-08 plan.

The total deposit in banks in the district stood at Rs.1,413 crore and advance is Rs.2,006 crore. The Credit Deposit Ratio was 142 per cent against the Reserve Bank of India norms of 60 per cent. Similarly, the advance to weaker sections stood at 13 per cent against RBI norms of 10 per cent.

For the self-help groups, under the Economic Activity assistance credit, 97 groups have been sanctioned loans worth Rs.4.30 crore. Under the Revolving Fund scheme, against the target of 309 a total of 308 loans have been sanctioned.

Under the Prime Minister’s Rozgar Yojana banks in the district have exceeded the target and have sanctioned 664 loans for a credit of Rs.2.99 crore, against the target of 580 loans. Of that, 508 loans have already been disbursed.

Through the TAHDCO under Individual Assistance Scheme against the target of 189, so far 204 loans worth Rs.58.21 lakh has been sanctioned. Under group loan scheme against the target of 34 Economic Activity loans, 58 loans worth Rs.1.18 crore has been sanctioned. Under Revolving Fund scheme a total of 56 loans have been sanctioned so far against the target of 68, Mr. Venkatesh pointed out.

Under the Swarna Jayanthi Gram Swarozgar Yojana, 124 individual loans to the tune of Rs.5.97 lakh and eight group loans to the tune of Rs.8.62 lakh have been disbursed utilising the entire subsidy of Rs.6.08 lakh allotted to the district. Banks in the district have issued 25,810 Kisan Credit Cards against the target of 23,000 cards to the tune of Rs.38.31 crore.

During the current year a total of 1,556 SHGs have been credit linked to the tune of Rs.10.54 crore and so far 7,129 loans worth Rs.35 crore have been disbursed.

Under the Rural Employment Guarantee Programme, against the Margin Money target of Rs.40 lakh, a total of Rs.47.50 lakh has been utilised covering 22 units with a loan amount of Rs.2.08 crore.

Mr. Venkatesh commended the banks for their overall performance under all the schemes and urged them to complete the balance before the end of March.

Project Officer, District Rural Development Agency, M. Madhavi, Senior Regional Manager, Indian Overseas Bank, S. H. Keshava, Assistant General Manager, Reserve Bank of India, S. Velusamy, Lead District Manager K. Chandrasekaran, and others participated in the meeting.

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