East Godavari annual credit plan launched

Kakinada, Mar 19 (UNI) The Annual Credit Plan (ACP) for East Godavari district for the year 2008-09 was launched today with a total outlay of Rs 3,000.37 crore at a meeting of the District Consultative Committee of Bankers here.

The lead bank district office brought out the credit plan document on the basis of the potential-linked credit plan (PLP) of the NABARD and in accordance with the Reserve Bank of India guidelines.

Launching the credit plan to be operationalised from April one onwards, District Collector M Subrahmanyam, who is also the committee chairman, said the plan outlay was raised by Rs 409.85 crore compared to the previous year, an increase of 15.82 per cent.

The share of the ACP for 2008-09 was 94.10 per cent to the PLP of the NABARD.

The increase in the outlay of crop production loans was Rs 62.50 crore, which accounted for 5.64 per cent increase over the earlier plan. The potential identified in PLP for crop production loans was Rs 1218.40 crore and its 96.10 per cent was being projected for crop production credit.

Mr Subrahmanyam said the allocation of funds for bank linkage to women Self-Help Groups (SHGs) had increased by 200 per cent to cover 35,000 groups.

He said the total credit for agriculture, both production credit and investment credit, was worked out to Rs 1943.52 crore as against Rs 1660.40 crore in the previous plan, registering an increase of 17.05 per cent.

UNI XR VA SJ 1557