Rs. 4,250.22 crore credit potential for Tiruvarur district in 2019-20
The Potential Linked Credit Plan (PLP) for Tiruvarur district, drawn up by the National Bank for Agriculture and Rural Development (NABARD), projects a credit flow potential of Rs. 4,250.22 crore in the district during 2019-20, an increase of 9.75% over the credit flow envisaged in the PLP for the current financial year.
The redit potential for the district has for the first time crossed Rs. 4,000 crore. The PLP estimate is 11% higher than the district annual credit plan (ACP) for the current financial year, NABARD officials said.
The PLP envisages credit flow to the tune of Rs. 2,354.46 crore by way of short term crop loan. Term loans for allied sectors, including agriculture infrastructure and ancillary activities such as food and agro processing, is projected at Rs. 1334.52 crore. The credit potential for micro, small and medium enterprise (MSME) sector is estimated at Rs. 221.09 crore.
As per the revised guidelines on priority sector lending by Reserve Bank of India, credit potential for export credit, education, housing, renewable energy and social infrastructure is estimated at Rs. 30 crore, Rs. 103.06 crore, Rs. 175.69 crore, Rs. 8.77 and Rs. 22.61 crore, respectively.
Releasing the PLP at the District Level Standing Committee Meeting at Tiruvarur on Monday, District Collector, Nirmal Raj, requested bankers to take steps to exploit the identified potential fully. Tiruvarur, being a part of the Cauvery delta, was extremely vulnerable to the vagaries of climate change as can be seen from the previous years of drought the district had to endure. Hence water conservation at all levels was imperative, he said.
Patrick Jasper, District Development Manager, NABARD, Tiruvarur, said NABARD was in the process of promoting about 15 Farmers Producers Organisations to increase the income of member farmers through direct marketing and processing of farm produce.
Under Rural Infrastructure Development Fund (RIDF), NABARD has sanctioned Rs. 26.39 crore for critical infrastructure projects in the district during the current year. Storage godowns to a total capacity of 1.19 lakh tonnes of agriculture produce were under construction with loans to the tune of Rs. 129.85 crore sanctioned under NABARD Warehouse Infrastructure Fund (WIF), he said.
The PLP was received by V. Ramakrishna, Chief Manager, Indian Overseas Bank. A. Ezhilarasan, Lead District Manager, IOB, and other officials were present.