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Rural Development
Nabard draws Rs 703-cr credit plan outlay for Madurai
Our Correspondent
MADURAI: The Potential Linked Credit Plan (PLP) for Madurai district, prepared by the National Bank for Agriculture And Rural Development (Nabard), is pegged at Rs 703.52 crore for the year 2006 - 07.
The earmarked share for agriculture and allied activities is Rs 321.14 crore, for non-farm sector, Rs 194.88 crore and other priority sector Rs 187.5 crore.
According to the Nabard Assistant General Manager, Mr R. Srinivasan, the performance of banks in implementing the Annual Credit Plan (ACP) during 2004 - 05 had been good. The banks have achieved 101 per cent by disbursing Rs 672.72 crore against the target of Rs 664.26 crore.
He further said that since the Reserve bank of India has withdrawn restrictions such as service area concept, the banks could henceforth formulate the plan at branch level. The branch plan would be consolidated at block and district levels, based on the potentialities identified in the PLP.
The Project Officer of the Madurai District Rural Development Agency, Mr Kirlosh Kumar, launched the credit plan in a bankers' meet at the Collectorate here.
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