Tamil Nadu   

NABARD not to post manager in Tirupur

Tirupur: Effective monitoring, coordination and planning of rural credit flow in the newly constituted Tirupur district might suffer a minor setback as the National Bank for Agriculture and Rural Development (NABARD) has decided not to post a District Development Manager (DDM) dedicatedly for the district.

Official sources told The Hindu that accordingly, the DDM of Erode district, Seshan Srinivasan, would don the dual role of DDM, Tirupur.

Paramount role

The DDM of NABARD plays a vital role in rural development across the country as he is set with the responsibility of credit planning, monitoring and development-related activities of rural financial institutions in any district.

Banking sources pointed out that considering the high magnitude of industrial and rural development activities as well as potential credit flow in all the blocks identified in Tirupur district, it is unwise not to post an exclusive DDM in the district.

“When Erode district itself is industrially buzzing, it will become a tedious job for the DDM of Erode to prepare Potential Link Credit Plans (PLCP), which act as base document for readying Annual Credit Plan (ACP) in any district, for two districts”, sources said.

Besides, coordinating promotional activities at block levels on a daily basis and organize sensitisation programme for bankers are possible only if an exclusive DDM is posted in the district.

Moreover, majority of the Primary Agriculture Co-operative Societies in Dharapuram, Kangayam, Moolanur, Vellakkoil and Kundadam blocks, which are coming under Tirupur district, are already in a bad state financially.

The DDM of NABARD is also now entrusted with the responsibility to check whether the financial packages given by Central Government to revitalise the sick PACSs are distributed in a manner that the capital to risk weighted assets ratio (CRAR) of these cooperative credit institutions will touch at least 7 per cent.

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