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Thursday, October 30, 2008

Over Rs 1,255-cr. credit disbursement target fixed for Villupuram

VILLUPURAM: Collector R. Palanisamy launched the Rs. 1,255.34-crore Potential Linked Credit Plan (PLP) for the district for 2009-10 at the bankers’ committee meeting held here on Tuesday.

He handed over the first copy of the plan to Annamalai, Chief Manager, Lead Bank Coordinator, Indian Bank, Villupuram. Assistant General Manager of National Bank for Agriculture and Rural Development (NABARD) G.Uma Maheswara Rao explained the objectives and methodologies in the preparation of the PLP.

He said that as per the Reserve Bank of India guidelines, the PLP would be the basis for the preparation of the Annual Credit Plan (ACP) of the district. The PLP was being prepared taking into account the existing infrastructure, the facilities to be created, the thrust of government-sponsored programmes and the credit absorption capacity of the banks.

The PLP envisaged total credit disbursement of Rs. 1,255.34 crore, registering an increase of 22.8 per cent over the ACP of the district for 2008-09.

The banks in the district were expected to disburse Rs. 1,051.82 crore to the agriculture sector, including Rs. 902.40 crore towards crop loans and Rs. 149.42 crore for agriculture term loans. The allocation on this score marked an increase of 22.3 per cent over that of the previous year plan target.

Similarly, under the industrial and services sectors, the banks were expected to lend Rs. 56.51 crore and Rs. 147 crore respectively in 2009-10. Mr. Rao further said that so far the NABARD had provided assistance to the tune for Rs. 360.60 crore from the Rural Infrastructure Development Fund for the implementation of 1,212 projects such as construction of roads, schools, bridges, check-dams, health and veterinary projects.

Officials, bank coordinators and representatives of non-governmental organisations participated in the meeting.


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