Tamil Nadu   

Karur’s credit potential assessed

On Target: Collector T.N. Venkatesh, (second from right), releasing the Potential Linked Credit Plan in Karur on Thursday.

KARUR: The credit potential in Karur district during 2008-09 has been assessed at Rs.882.56 crore as per the Potential Linked Credit Plan (PLPC) prepared by the National Bank for Agriculture and Rural Development (NABARD). Collector T.N. Venkatesh released the Plan and the Senior Regional Manager, Indian Overseas Bank, Erode, S.H. Keshava received the first copy here on Thursday.

Since over half of the population of the district was engaged in activities other than agriculture, the credit potential for non-agricultural activities has been assessed at Rs.616.38 crore.

Potential for crop loan and other term loans for agriculture have been estimated to be Rs.185.86 crore and Rs.80.32 crore respectively, as per the plan document.

Major constraints in stepping up credit for agriculture include limitations in tapping ground water, inadequate extension support, huge backlog in energisation of pump sets, insufficient storage facilities and erratic power supply. The plan document also spoke about the need for banks to increase coverage under the Kisan Credit Card scheme, extend more credit to micro irrigation management techniques and encourage agri clinics and agro-processing ventures for value addition, according to the NABARD Assistant General Manager, P.R. Srinivasan.

The PLPC document presented a comprehensive picture of the physical potential that could be translated into credit potential. It also identified the initiatives and support required to realize the potential.

The Plan would form the basis for preparing the Annual Credit Plan 2008-09 by the banks in the district, Mr. Srinivasan added.

Mr. Srinivasan said that the PLPC has been prepared taking into account the present and future infrastructure, policy initiatives of the governments, thrust areas identified for development and the strength and weakness of the financing institutions. Ahead of preparing the plan, detailed discussions were conducted with the government departments, connected agencies, cross section of farmers and entrepreneurs, he said.

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