Rs.519.45-cr. ACP for Pudukottai district

The Collector, R. Thyagarajan, releasing the Annual Credit Plan in Pudukottai on Wednesday.

The Collector, R. Thyagarajan, releasing the Annual Credit Plan in Pudukottai on Wednesday.  

PUDUKOTTAI, MARCH 18. The Annual Credit Plan for 2005-06 for Pudukottai district envisaging a total credit outlay of Rs.519.45 crores, registering a growth of 21 per cent over the previous year's outlay, was launched by the Collector, R. Thyagarajan, at the district level review committee meeting organised by Indian Overseas Bank, the lead bank, on Wednesday.

A major share of Rs. 433.34 crores of the total outlay has been allotted to agriculture and allied activity sector with an increase of 30 per cent over the previous year's revised plan of Rs. 333.66 crores as per the new farm credit policy. Industrial and non-farm sector have been allotted Rs. 25.45 crores and Rs. 60.62 crores is planned for disbursal under service and business sector.

Mr. Thyagarajan said the plan was prepared with a developmental thrust to tap the unexplored potential. As per the new farm credit policy, banks in the district have covered 61,320 farmers and extended credit to the tune of Rs.144.56 crores as on January 31, 2005. With regard to the performance of banks under the ACP 2004-05 up to third quarter ended December 2004, they have disbursed total credit of Rs. 320.80 crores as against the plan allocation of Rs. 316.88 crores.

Total deposits and advances, as on December 31, were Rs. 853.98 crores and Rs.732.08 crores respectively and the Credit Deposit Ratio was 86 per cent as against the national norm of 60 per cent.

Referring to the implementation of various programmes particularly under the SGSY, PMRY, TAHDCO, SJSRY, KVIC, margin money scheme and credit link of SHGs, he urged bankers to fulfil the government objectives within the stipulated time.

They should avoid last minute rush and plan well ahead of time to achieve the target. While achieving the targets no room should be given for sectoral and regional imbalance.

Under the SGSY revolving fund scheme, the DRDA released subsidy to 342 SHGs and 242 SHGs have been assisted by the banking system by releasing cash credit limits aggregating to Rs.1 crore up to February this year. During the current year, under the PMRY, banks have sanctioned 566 applications and disbursed loans to 309 cases.

As per the Government directives, all eligible farmers should be covered by the Kisan Credit Card scheme.

Till February end, 18,793 KCCs amounting to Rs. 65.44 crores have been issued.

Mr. Thyagarajan called upon bankers to extend personal accident insurance covers to all existing and prospective KCC holders.

The Chief Regional Manager, IOB, Karaikudi, A. L. Ramanathan, the Project Officer (DRDA), M. Madasamy, the Assistant General Manager, Reserve Bank of India, S. Ravi, the Assistant General Manager, NABARD, N. Kesavamoorthy, the Special Officer, Pudukottai District Central Cooperative Bank, R. Jayaram, the lead district manager, R. Muthaiyan, spoke.

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