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Our Bureau

CM to address State credit meet today

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Hyderabad March 4 The Nabard State credit meet has been convened in the city to discuss the credit potential under various sub-sectors of farm and non-farm areas for 2007-08 and a State focus paper will be released.

The State credit meeting, to be addressed by the Chief Minister, Dr Y.S. Rajasekhara Reddy, on Monday, is expected to deliberate on infrastructure requirements in the general category and under the Rural Infrastructure Development Fund (RIDF).

According to a statement from Mr V. Ramakrishna Rao, Chief General Manager, Nabard AP Regional Office, Andhra Pradesh is the biggest beneficiary under the RIDF assistance from Nabard.

The cumulative sanctions and disbursements stood at Rs 8,132 crore and Rs 4,806 crore respectively.

The event will also seek to deliberate on the policy and operational issues that need to be addressed to harness business potential.

Representatives from the Reserve Bank of India, State-Level Bankers Committee and commercial and co-operative banks will attend the meet.

Earlier, Nabard had prepared district-wise potential linked credit plans (PLPs) for 2007-08 for all 22 districts in the State, which form the basis for the State focus paper.

As per the RBI's guidelines, these PLPs form the basis for annual credit plans.

The PLPs are prepared through a consultative process with participation of Government and bank officials with meetings at the district level.

This is followed by meetings with Special Credit District Consultative Commi- ttees to discuss the estimated district-wise credit potential. This process culminates in State Credit Plan.

In addition, the credit meet will seek to chart out a roadmap to bankers on the potential areas of extending rural credit, while the State Government will be in a position to take policy initiatives in advance to provide an enabling environment.

More Stories on : Agricultural Institutions | Interest Rates | Andhra Pradesh

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