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Rs. 549-crore ACP for Puducherry

PUDUCHERRY: The Annual Credit Plan outlay for Puducherry for 2008-2009 has been placed at Rs.549.21 crore showing an increase of Rs.148.02 crore and marking 37 per cent growth over the current year. Executive Director of Indian Bank A. Subramanian launched the plan for the Union Territory at a meeting of the State-level bankers committee held here on Wednesday.

According to Indian Bank sources, the credit projections under the plan had been steadily going up from 1995-96 from an outlay of Rs.73.42 crore. During the current financial year, credit disbursement had reached a level of Rs.388.92 crore up to December 2007 against the target of Rs.302 crore for the nine-month period.

The non-farm sector outlay is projected at Rs.135.53 crore accounting for a share of 25 per cent of the total outlay as compared to Rs.93.42 crore allocated during 2007-2008. The outlay to agriculture is projected at Rs.156.41 crore against an outlay of 140.50 crore during 2007-2008, which marked an increase of 11 per cent. The outlay for allowing over draft facility and general credit card component has been projected at Rs.6.46 crore and credit to minority communities will be at Rs.2.89 crore.

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