The National Bank for Agriculture and Rural Development (NABARD) has pegged the Potential Linked Credit Plan (PLP) for Kallakurichi district at ₹12,085.88 crore for the year 2024-25.
The projected credit potential for the priority sectors of the district for 2024-25 is 53.31% more than the previous year’s estimated credit flow potential. It is also 6.41% higher than the current year’s Annual Credit Plan (ACP) target.
The PLP will be the reference for the preparation of the ACP by Indian Bank, the lead bank of the district, for determining sector-wise lending priorities.
District Collector Sravan Kumar Jatavath recently released the PLP at a meeting.
The Collector, while appreciating the support rendered by the banks, also advised them to strive towards achieving the targets fixed by the lead bank against the ground-level credit potential estimated in the PLP. Apart from agriculture sector investments, loans to the MSMEs, education and housing sectors must be disbursed without any undue delay.
As the credit plan for the district is a time-bound programme, the quarterly achievement of the ground-level credit could be reviewed at the BLBC and District Consultative Committee fora to ensure the achievement of the estimated credit potentials, the Collector said.
According to a press release by NABARD, the credit requirement for the crop production activities - likely to be taken up during the next financial year - has been estimated at ₹8,133.89 crore. The estimation of the crop loan has been carried out based on the scale of financing of crops and their prospective area of cultivation next year.
Considering the need for promoting the capital formation in agriculture and allied sectors, an overall credit potential of ₹9,450.70 crore has been estimated for term loan towards agriculture. The credit for agriculture infrastructure and ancillary activities was estimated as ₹693.02 crore. Thus, a total of ₹10,143.72 crore has been estimated towards agriculture credit.
Keeping in view the government’s priority towards the MSME sector, a credit potential of ₹868.70 crore has been estimated to accelerate the growth of MSME sector in the district. The credit potential for Other Priority Sector has been estimated as ₹1,073.46 crore.
