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Rs.1,785.65-crore credit plan for Virudhunagar district released



Money matters: Collector K. Raghupathi releasing the annual credit plan for Virudhunagar district. Chief Regional Manager, Indian Overseas Bank S. Natarajan, is receiving the first copy.

VIRUDHUNAGAR: The Virudhunagar Collector, K. Raghupathi, released the annual credit plan for the year 2009-10 with a credit outlay of Rs.1,785.65 crore for the district.

The plan envisages a credit of Rs.450.22 crore for agriculture and farm-related industries. The non-farm sector has been given Rs.1,007.58 crore and Rs.284.84 crore for priority sector.

In a statement the Collector said that the food processing sector has been allocated Rs.43.01 crore. Revolving fund grants to the tune of Rs.118.80 lakh to 1,148 self help groups. A total of 3,231 SHGs would be given bank credit of Rs. 3,231.87 lakh.

In the current fiscal, farm loans to the tune of Rs. 22.96 crore have been distributed through 6,182 farmers’ credit cards. With a view to increase milk production, the banks are giving credit of Rs. 3 lakhs under venture capital fund for setting up milk farms. Nationalised banks were offering Rs.1.50 lakh interest-free loans. So far, 117 applications have been received under the scheme, and seven applicants were given Rs.21 lakh loan, the Collector said.

Out 256 applications received seeking educational loan, loans have been sanctioned to 77 persons.

The Collector said that private banks were nationalised in the past with an aim to remove poverty among the masses, he said the access to banks that were only for the affluent people had now gone to the rural areas to serve the common man.

Stating that implementation of Government schemes had direct relation with the functioning of the banks, he urged the bankers to involve themselves and extend cooperation for the schemes.

The Chief Regional Manager of Indian Overseas Bank, S. Natarajan, Reserve Bank Manager, Sankar, the lead bank manager, Sukumar, NABARD manager, Manivannan, Mahalir Thittam Project Officer, S. Savithiri, Joint Director of Agriculture, Balasubramanian, were among those who were present.

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