(MENAFN - KNN India) NABARD rolls out 2,803 crore credit linked plan for Union Territory

Poducherry, Feb 9 (KNN) Eyeing at increased lending for sectors including agriculture and Micro, Small and Medium Enterprises (MSMEs), the National Bank for Agriculture and Rural Development (NABARD) has marked the credit amount for Union Territory at Rs 2,803.96 crore for 2018-19.

The core committee of the State Level Bankers released the NABARD'S Potential Linked Credit Plan (PLP) in the meeting that held on Feb 7, 2018.

D Manikandan, Secretary, Information Technology, released the document and handed over the first copy to S. Rajagopal, AGM and Deputy Zonal Manager and Convenor, SLBC, Indian Bank.

The forecast for NABARD'S Potential Linked Credit Plan (PLP) for 2018-19 is 6% greater than the last year credit amount.

Sectors with highest level of projection are Crop Production, maintenance and marketing for agriculture term loans, followed by the Micro, Small and Medium Enterprise (MSME) category.

'The projections for 6 blocks have been made considering the growth trends, current levels of achievement, changes in unit costs, revised scales of finance, trends in credit flow, the priorities of the Government of India to scale up lending to various sectors of the economy and doubling of farmers' income by 2022, NABARD'S official said.

The broad sector-wise projections are 51% for crop production, maintenance, marketing, agriculture term loan/infrastructure, including food and agro processing, 25% for MSME sector and 24% for other priority sectors, including export credit. (KNN/YV)

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