The Potential Linked Credit Plan for 2022-23 prepared by the National Bank for Agriculture and Rural Development (NABARD) has assessed the credit potential for Cuddalore district at ₹11330.63 crore, a projected growth of about 11.6% more than the projections for the current financial year.
The PLP (Potential-Linked Credit Plan) forms the basis for finalisation of the Annual Credit Plan (ACP) of the district.
The PLP document was released by Cuddalore Collector K. Balasubramaniam at a recent credit outreach programme.
R. Vijayalakshmi, Zonal Manager, Indian Bank, M. Vijay Neehar, DDM (District Development Manager), NABARD, P. Aguilane, Lead District Manager (LDM), other bankers and government officials, SHG/JLG members participated in the meeting.
Releasing the document, the District Collector advised the banks to allocate more targets towards medium and long-term credit in agriculture as there is good potential to promote farm mechanisation, micro irrigation systems and animal husbandry sector in the district.
Mr. Neehar said the PLP projection that was 11.6% more than the ACP target for the 2021-22 fiscal was one of the high points of the current estimates.
The PLP for the district, which evolved out of consultations with officials at the Block, District and State-level departments in the government, banks and NGOs, also reflected the national priorities of the Government of India to scale up lending to various sectors of the economy, he said.
The share in the PLP estimates - 2022-23 for agriculture sector is ₹8,068.16 crore. Keeping in view the recent policy initiatives of Government of India to provide a push to the MSME sector, an amount of ₹1,332.97 crore has been estimated for the district.
Mr. Aguilane said that based on the potential estimated in the PLP for the coming year, a background paper will be circulated by the lead bank, along with the block-wise / activity-wise potential identified in the plan.
Banks will prepare their branch-level credit plans so as to finalise the Block Credit Plans and then District Credit Plan for the year 2022-23.
He also indicated that the critical issues and constraints faced by the banks as well as government departments and strategies to be adopted to realise the estimated credit potential have been described in the plan document. He requested the banks to utilise the plan document for achieving their targets.