Tamil Nadu - Chennai   

Rs. 15,388-crore crop loan envisaged for State

Special Correspondent

Share of nationalised banks will be Rs.11,180 crore: Chidambaram

CHENNAI: Union Finance Minister P. Chidambaram on Saturday said the Annual Credit Plan by banks in the State for 2006-2007 envisaged a credit flow of Rs.15,388 crore to agriculture.

Of this, the share of the nationalised banks and other commercial banks would be Rs.11,180 crore. Regional Rural Banks would contribute Rs.786 crore and cooperative banks would earmark Rs. 3396 crore.

Briefing newsmen on the decisions taken at the special State level Bankers' Committee (SLBC) meeting at the Secretariat here, he told reporters that the meeting reviewed the progress made in the implementation of the government-sponsored programmes such as the Prime Minister's Rozgar Yojana (PMRY), Swarna Jayanti Gram Swarozgar Yojana (SGSY), SJSRY and rehabilitation of persons liberated from manual scavenging.

It also discussed issues relating to farm credit and credit flow to small and medium enterprises (SME).

Good decisions were arrived at, thanks to the cordial relations between the State Government and the Centre, he said.

As the State Government initiated measures to rejuvenate cooperate banks following its decision on crop loan waiver, the credit gap was estimated to be around Rs.500 crore to Rs.750 crore, Mr. Chidambaram said, adding that the commercial banks would bridge the gap.

The State Government officials and bankers would sit down and reconcile the figures with them within a week, he said.

On recapitalisation of cooperative banks in Tamil Nadu, he said that the State Government had taken a decision on signing a Memorandum of Understanding with the Centre on the basis of the Vaidyanathan Committee Report. Once the MoU was signed, Central funds would flow to the Government for the recapitalisation, he said.

Under the PMRY, 4,000 loan applications would be examined every month. The first batch of applications would be taken up for review on September 25. The State Government would take a decision on appointing 12 Deputy Tahsildars to ensure hassle-free recovery of the PMRY loan, Mr. Chidambaram said.

Funds to the tune of Rs.131.79 crore had been earmarked to provide loan under the SGSY and loan applications under the SJSRY would be received at seven regional centres.

All the applications to disburse 9,845 loans under the SJSRY with a subsidy component of Rs.9.27 crore would be cleared before November 30, he said.

Under the State Government's scheme, grants to the unemployed youth would be released once in three months if the beneficiaries opened accounts in public sector banks. The Centre had asked the State Government to classify lands acquired for distribution to members of the Scheduled Caste into white, grey and dark areas.

Efforts would be made to fulfil the target by providing loan to the beneficiaries in the white and grey areas.

There would be an increase by 20 per cent for the SME in 2006-2007, he said.

Among others, State Finance Minister K.Anbaszhagan, Minister for Electricity Arcot N.Veerasamy, Chief Secretary L.K.Tirpathy and bankers participated in the meeting.

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