Collector S. Natarajan released the Annual Credit Plan (ACP) of Rs. 3,149.58 crore for the district by the nationalised and private banks for the year 2016-17 for Agriculture and allied activities, non farm and other priority sectors
The Collector, who chaired the bankers’ meeting here on Tuesday, released the ACP, prepared by Indian Overseas Bank (IOB), the lead bank of the district on the basis of potential linked credit plan of National Bank for Agriculture and Rural Development (NABARD).
“The plan envisages a total outlay of Rs. 3,149.58 crore allocated to various sectors and each bank has been given a target. The outlay marked an increase of 17.54 per cent over last year’s ACP target,” the Collector said.
Uma Maheswari, Chief Regional Manager of IOB, Tuticorin, Mathiazhagan, Assistant General Manager, NABARD and Suresh Babu, the Lead Bank Manager were present on the occasion.
As the district was predominantly agriculture based, Agriculture and allied sector topped the credit target amounting to Rs. 2,139.69 crore (67.94 per cent).
Export credit, renewable energy and social infrastructure were also given separate targets this year, the Collector said.
According to the plan, the credit for housing has been fixed at Rs. 272 crore, followed by Education (Rs. 270 crore) and Micro, Small and Medium Enterprises (Rs. 150.48 crore). A credit of Rs. 47.02 crore has been fixed for social infrastructure and a total of Rs. 224.05 crore for other priority sectors.
Source : The Hindu