16 per cent growth in credit expected

The Potential Linked Credit Plan of National Bank for Agriculture and Rural Development for Tirupur district has assessed a credit potential of Rs. 7,254.75 crore during the 2013-14 financial year, a projected growth of 16.07 per cent over the current fiscal.

Of the total projected plan outlay, Rs. 2,215.02 crore has been earmarked for farm sector (30.53 per cent), Rs. 4,312.43 crore for micro, small and medium enterprises sector (59.44 per cent), and Rs. 727.28 crore (10.02 per cent) for other priority sectors covering loans for the purposes of education, housing, and small-scale road transport operations.

Among the projected total farm-credit, Rs. 1,190.25 crore would be crop loans and the remaining term loans to agriculture and allied sector activities for creation of minor irrigation facilities, farm mechanisation, and animal husbandry.

Outlining the process adopted in the preparation of the document, the bank’s District Development Manager V.S. Sriram told

The Hindu that the projected outlay was calculated using the inputs obtained through consultations with various departments, Lead Bank, and other stake holders covered by the priority sector advances in the district. “The assessment of increased credit flow to agriculture and allied sectors was based on the creation of infrastructure like strengthening of rural roads, augmentation of irrigation potential and construction of bridges.,” he said. Banking sources said that the plan document would serve as a base document for the Lead Bank in the preparation of Annual Credit Plan 2013-14.