The National Bank for Agriculture and Rural Development (Nabard) has pegged the credit potential for the Union Territory at Rs 2,803.96 crore for 2018-19.
The projection for NABARD’s Potential Linked Credit Plan (PLP) for 2018-19 is 6% more than what was given for 2017-18. The highest projected sectoral allocations are for crop production, maintenance and marketing for agriculture term loans, followed by the Micro, Small and Medium Enterprise (MSME) category.
Lending to go up
The projections for six blocks have been made keeping in view the growth trends, current levels of achievement, changes in unit costs, revised scales of finance, trends in credit flow, the priorities of the Government of India to scale up lending to various sectors of the economy and doubling of farmers’ income by 2022, a Nabard official said.
The plan was released at a meeting of the Core Committee of the State Level Bankers here on Wednesday.
The broad sector-wise projections are 51% for crop production, maintenance, marketing, agriculture term loan/infrastructure, including food and agro processing, 25% for MSME sector and 24% for other priority sectors, including export credit, education and so on.
D Manikandan, Secretary, Information Technology, released the document by handing over the first copy to S. Rajagopal, AGM and Deputy Zonal Manager and Convenor, SLBC, Indian Bank.