The National Bank for Agriculture and Rural Development (NABARD) has released Potential linked Credit Plan for Salem and Namakkal districts.
In Salem, Collector S.A.Raman released the credit plan for 2020-21 recently. NABARD has assessed the credit potential for Salem at ₹7,598.87 crore, 11.7% higher than the potential assessed for current financial year, ₹6,803.39 crore.
Releasing the credit plan, Mr. Raman advised bankers to improve term lending under agriculture for capital formation to improve agricultural productivity.
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A.Bhama Buvaneswari, District Development Manager, NABARD, said that the credit potential for agriculture had been increased 27.62% compared to current year’s projection.
In Namakkal, Collector K.Megraj released the credit plan of ₹ 6,448 crore for the district. According to a release, the credit plan for 2020-21 is ₹370 crore higher than the current year. NABARD has estimated credit potential of short term crop loan at ₹2,603 crore, term loans for allied sectors at ₹1,340 crore, for MSME sector ₹1,055 crore and for other priority sectors ₹1,450 crore, a release said.