A potential-linked credit plan (PLP) of Rs. 5,527.36 crore has been projected for Namakkal district during 2017-18 by NABARD (National Bank for Agriculture and Rural Development).
District Collector M. Asia Mariam released the plan at the district level review committee meeting recently and asked bankers to increase their target of medium and long-term credit for agriculture as there was good potential to promote farm mechanisation, micro irrigation systems, horticulture and animal husbandry.
The plan reflects a 19 per cent rise in credit flow over the current financial year.
S.K. Dhinesh, District Development Manager, NABARD, said that the credit flow of Rs. 2,271.25 crore was for crop loan, and Rs. 569.75 crore was projected for micro, small and medium enterprises.
S. Raveendran, Assistant General Manager, Reserve Bank of India, said that banks need to create awareness on digital payments through financial literacy awareness programme.
S. Chandrasekar, Lead District Manager, said that banks would strive to achieve the priority sector lending targets.