Coimbatore

Potential Linked Credit plan for Krishnagiri released

The Potential Linked Credit for the priority sector has been estimated at ₹6,511.19 crore for the year 2020-21. The potential for credit deployment for the year 2020-21 envisions an 11 % increase over the Annual Credit Plan for the current year 2019-20. The Plan prepared by NABARD was released here by Collector S. Prabhakar at the bankers’ meeting at the Collectorate on Monday.

According to the PLP, term loans for asset creation will ensure good returns to the farmers over a period of time in agriculture and allied activities. The potential for agriculture credit deployment envisions a total credit of ₹3,853.58 crore. This entails farm credit of ₹3,433.90 crore; agriculture infrastructure credit of ₹222 crore; and agriculture ancillary activities credit of ₹197 crore.

The potential for Micro, Small and Medium Enterprises (MSMEs) has been estimated at ₹1,052 crore; education ₹102 crore; housing ₹284 crore; social infrastructure ₹47 crore and renewable energy ₹15 crore.

The envisions an increase in export credit during the year 2020-21 over the current year at ₹85 crore. Lending by the formal sector to micro credit including Self Help Groups/ Joint Liability Groups is assessed at Rs .1074 crore.

Earlier, releasing the PLP document, Dr .Prabhakar advised bankers to play a proactive role in the sanction of loans. There is a renewed interest in agriculture and allied activities among the rural youth. They need guidance on banks expectations with regard to loan sanctions, terms and conditions and various subsidy schemes available under Centre and State.

K. Dhamodhiran, Assistant General Manager, Reserve Bank of India, Chennai, Nasreen Salim, AGM, NABARD, Krishnagiri, R. Thirumavalavan, AGM, Zonal Office, Indian Bank, Krishnagiri, G. Bhaskar, Lead District Manager, Indian Bank, Krishnagiri District were among the officials present.

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Printable version | Jul 11, 2020 3:49:43 AM | https://www.thehindu.com/news/cities/Coimbatore/potential-linked-credit-plan-for-krishnagiri-released/article30090193.ece

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