NABARD pegs credit plan estimate for Villupuram at ₹7,357.65 crore

The projected credit potential for the priority sectors of the district for 2023-24 is about 8% more than the previous year’s estimated credit flow potential and is about 15.67% higher than the current year’s Annual Credit Plan target

The National Bank for Agriculture and Rural Development (NABARD) has pegged the Potential Linked Credit Plan (PLP) for Villupuram district at ₹7,357.65 crore for the year 2023-24.

The projected credit potential for the priority sectors of the district for 2023-24 is about 8% more than the previous year’s estimated credit flow potential and is about 15.67% 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 D. Mohan recently released the PLP at a meeting.

The Collector, while appreciating the support rendered by the banks, also advised them to strive to achieve 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 DCC fora to ensure the achievement of the estimated credit potentials, the Collector said.

As agriculture and rural development is a multi-disciplinary subject, a coordinated approach of all the stakeholders — bankers, government departments, research institutes, NGOs and farmers — in the district can help achieve the credit potential estimated in the PLP and thereby achieving the capital formation in agriculture and allied areas.