Tamil Nadu - Thanjavur   

Rs. 1,001-cr. credit plan for Thanjavur

Special Correspondent

Agriculture sector constitutes 74.31 per cent

Thanjavur: The Annual Credit Plan for 2007-2008 for Thanjavur district envisages a total credit outlay of Rs. 1,001.49 crore to be financed by commercial and cooperative banks.

Sector-wise allocation is Rs. 744.18 crore for agriculture constituting 74.31 per cent share, non-farm sector Rs. 103.54 crore (10.34 per cent) and services Rs. 153.77 crore (15.35 per cent).

Collector C. Vijayaraj Kumar released the plan at the fourth district-level review committee meeting here on Friday. R.Vaidyanathan, Chief Regional Manager, Indian Overseas Bank, received the copy of the plan.

Mr. Vaidyanathan said that as our Government was giving priority for agriculture, the plan outlay for the sector was increased for the next financial year. As Thanjavur was industrially backward, additional outlay was allotted for small-scale industries.

Out of the total outlay, commercial banks would disburse Rs. 949.30 crore constituting 94.79 per cent share and cooperative banks Rs. 52.19 crore constituting 5.21 per cent.

K. Rajamani, Project Officer, District Rural Development Agency, brought to the notice of the bankers the partial payment made by some bankers with respect to loans to some women self-help groups. He said that this practice was against Reserve Bank of India guidelines and should be desisted by bank managers. He also said that revolving fund was yet to be released to 505 groups in the district.

"Evolve a mechanism"

The Collector urged the bankers to evolve a mechanism by which he could ascertain whether the loan was fully sanctioned or not. The list of persons who availed subsidy and the amount given were provided by District Rural Development Agency to the collector. Banks give only the number of loans disbursed and not the quantum.

P. Thangarasu, Assistant General Manager, Reserve Bank of India, said that loans given against jewels should be excluded while accounting for agriculture loans and only `pure agriculture loans' should be taken into account. Achievement in agriculture sector was not commensurate with the loans sanctioned, he said.

N.V. Bhaskaran, Assistant General Manager, National Bank for Agriculture and Rural Development (NABARD), T.P. Rajendran, Lead District Manager, and M. Valayapathi, Chief Manager, IOB, participated in the meeting.

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