The National Bank for Agriculture and Rural Development (NABARD) has assessed the credit potential for Tiruppur district for the financial year 2022-23 at ₹ 15,168.95 crore, which is 10% more than the projections made for the financial year 2021-22.
A press release said that the potential-linked credit plan document was released by District Collector S. Vineeth during the District-Level Standing Committee Meeting held at the Collectorate on Monday. Lead District Manager T. Alexander received the first copy in the presence of NABARD’s District Development Manager E. Raju.
Mr. Raju said that of the total plan outlay of ₹ 15,168.95 crore, the maximum credit potential for the Micro, Small and Medium Enterprises (MSMEs) was assessed at ₹ 7,898.22 crore or 52.07% of the total outlay. For agriculture and allied activities ₹ 4,560.16 crore (30.06%), export credit - ₹ 645 crore (4.25%), education - ₹ 328.95 crore (2.17%) and housing - ₹ 357.75 crore (2.36%).
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Credit potential estimated for other sectors are ₹ 581.64 crore (3.83%) for renewable energy, ₹ 22.23 crore (0.15%) for social infrastructure and ₹ 775 crore (5.11%) for self-help groups, joint liability groups and others.
Mr. Vineeth said that the potential-linked credit plan has been prepared based on the Reserve Bank of India’s guidelines on priority sectors, government policies and programmes, available rural infrastructure and gaps and consultative process with the bankers.
Mr. Alexander said that the bankers must utilise the plan document while preparing their branch/bank credit plan, according to the release.
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