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Credit plan to focus on rurals

PUDUCHERRY: The Potential Linked Credit Plan of the National Bank for Agricultural and Rural Development (NABARD) for Puducherry for 2008-09 will focus on the expectations of the rural people, including unhindered access to timely credit at reasonable rate of interest, according to a release from the bank.

The bank has estimated an amount of Rs 550.78 crore to be the credit flow under priority sector for the Union Territory for the next financial year, the release said.

The plan had been prepared keeping in mind the expectations of the people. Adequate price, need for storage facility, loan requirements for buying vehicle and milch animals, reduction in the rate of interest, incentive for prompt repayment of loan, requirement of training and exposure and common facility centre to provide farm implements would be the other thrust areas, it said.

Assistant General Manager (DD) of NABARD R. Muralidharan said the bank would also focus on providing credit to eligible borrowers covered under financial inclusion project successfully carried out in Puducherry, on implementation of long-term investment projects and for dissemination of information about State and Central government schemes to the ultimate borrowers.

The bank would focus on strengthening group dynamics in micro-finance which would be immensely beneficial for capital formation, increased productivity and facilitate higher credit absorption, he added.

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