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Kanniyakumari’s credit outflow pegged at Rs. 8,196 crore
Tamil Nadu | December 2018
The potential linked credit plan for the district for the year 2019 – 2020, which was released by Collector Prashant M. Wadnere here on Friday, has envisaged a credit outflow of Rs. 8,196.95 crore.
This is 4.18% more than the previous year’s projection as the district’s credit projection for the year 2018 – 2019 stood at Rs. 328.69 crore.
The Potential Linked Credit Plan, prepared by National Bank for Agriculture and Rural Development (NABARD), envisages a credit outflow of Rs. 4,385.16 crore towards crop loan as agriculture is the predominant occupation in the district. Term loans potential under major sub-heads as per recent priority sector norms viz., farm credit-term loan, agricultural infrastructure and ancillary activities have been estimated at Rs. 1,941.09 crore.
The credit potential under micro, small and medium enterprises has been arrived at Rs. 1,122.64 crore.
With regard to export, education and housing, the total potential assessed was to the tune of Rs. 1,153.40 crore.
Mr. Prashant, while releasing the Potential Linked Credit Plan, exhorted the bankers to increase lending to vulnerable sections of the community in order to achieve sustainable growth.
He said the potential also highlights the need for enhancement of agricultural term loans, micro credit through collateral-free loans for self-help groups and the need for greater credit flow for off-farm sector for creation of sustainable employment.
District Development Manager, NABARD, Kanniyakumari, P. S. Sailesh and Lead District Manager Ramkumar received the first copy of Potential Linked Credit Plan from the Collector.
The Potential Linked Credit Plan for Kanniyakumari can be accessed from www.nabard.org.