A Rs.6,212.38 crore Annual Credit Plan (ACP) has been released for the district for 2016-17 envisaging priority lending support across sectors, including agriculture and MSMEs.
G Vijaya, District Revenue Officer (DRO), Cuddalore launched the ACP for the fiscal prepared by the lead bank, the Indian Bank, Cuddalore at the District Level Bankers’ meeting held at the Collector’s camp office, Cuddalore.
Accounting for the agrarian characteristic of the district, the highest quantum of credit support to the tune of Rs.4,704.28 crore has been earmarked for the agriculture sector. This constitutes 75.72 per cent of the total financial outlay.
The Micro Small and Medium Enterprises (MSME) and other priority sectors have been earmarked Rs.590.60 crore and Rs.917.50 crores respectively, accounting for 9.51 per cent and 14.77 per cent of the plan out lay proposed for the priority sector.
Specifically, Rs.1,180.52 crore has been earmarked for medium and long term loans under agriculture for minor irrigation, land development, farm mechanisation, plantation and horticulture crops, fishery and animal husbandry activities.
After releasing the Plan, the District Revenue Officer (DRO) handed over the first copy to N. Balu, AGM, RPCD, RBI, Chennai. She handed over copies of the Credit Plan to S. Selvaraj, DGM / Zonal Manager, Indian Bank, Cuddalore, D.Sankar, AGM/DDM, NABARD, Cuddalore, Andrew Ayyasamy, Lead District Manager, Cuddalore and other District Coordinators of the Member Banks. Ayyasamy, noted that individual Bank/ Branch Credit Plan at block level which were arrived at had been consolidated for finalising the District Credit Plan.
The Annual Credit Plan is prepared in synchronisation with Potential Linked Credit Plan prepared by NABARD for Cuddalore District.
S.Selvarai, Zonal Manager, Indian Bank, informed that the annual credit plan outlay of Rs.6212.38 crore for 2016-17 represented a 19.14 per cent increase over the ACP for the year 2015-16 (Rs.5,214.48 crore).
Out of this total financial out lay, commercial banks will share Rs. 5,101.07 crore (82.11 per cent), Co-operative banks Rs.709.90 crore (11.43 per cent), Regional Rural Banks Rs. 371.44 crore (5.98 per cent) and Tamil Nadu Industrial Investment Corporation Rs.29.97 crore (0.48 per cent).
To uplift the poor and downtrodden, an out lay of Rs.137.63 crore has been allocated to various Government-sponsored programmes for the Cuddalore district.
The district coordinators of Member Banks and senior officials from various Government Departments participated in the banker’s meet.
Source: The Hindu
