Tuticorin: The Collector, R. Palaniyandi, released the Annual Credit Plan (ACP) for 2008-09, here on Wednesday, which envisages a total credit flow of Rs.1,657.44 crore during the period, an increase of 11.83 per cent over the ACP of 2007-08.
The ACP was prepared by the State Bank of India, lead bank of the district, by amalgamating the potential identified by NABARD through its Potential Linked Credit Plan 2008-09 and actual ground level disbursements.
Of the total projected credit flow for 2008-09, agriculture sector would receive Rs.629.82 crore, constituting 38 per cent of the allocation.
Likewise, non farm sector (NFS) and other priority sectors (OPS) would receive Rs.477.93 crore (28.83 per cent) and Rs.549.69 crore (33.17 per cent), respectively.
While the credit plan earmarked 33.64 per cent of the total allocation towards development in rural areas, the rest of the credit flow was aimed at urban and semi-urban regions.
The projections in the ACP had leaped from Rs.326.6 crore during 2000-01 financial year to 1,657.44 crore for 2008-09 fiscal.
Performance of banks
Later, reviewing the performance of banks at the District Consultative Committee for Banking Development in the district, the Collector said that the credit-deposit (CD) ratio of financial institutions other than co-operative banks stood at 79.14 per cent during the first three quarters of the current fiscal (2007-08), while that for the co-operative banks was 155.97 per cent.
N. Thiyaharajan, Lead Bank Manager, R. Bharat Kumar, Assistant General Manager of NABARD, M. Shankar, Lead District Officer, RBI, and senior officials of various banks, were present.