NABARD projects over Rs 550 crore credit plan for UT

Puducherry, Nov 29 (UNI) The National Bank for Agriculture and Rural Development (NABARD) has projected Rs 550.78 crore potential linked credit plan for Puducherry for the year 2008-09.

According to a NABARD release here today, this would represent a 25.4 per cent increase over the projection of Rs 439.16 crore for 2007-08.

The document brought out by the bank highlighted sector-wise availability of infrastructure, service and credit requirements in the Union Territory.

The potential linked credit plan had estimated that out of the total six blocks in the UT, the Reddiyarpalayam block would account for 24.9 per cent of the total credit requirements in the next financial year, while Karaikal would account for 22.1 per cent and Mahe and Yanam regions 5.2 per cent each.

The bank was concerned with the infrastructure development to facilitate unhindered flow of credit for rural development. The document felt that the cooperative institutions in the UT should be strengthened, the release said.

UNI