'The National Bank for Agriculture and Rural Development (NABARD) has assessed the credit potential for the district at Rs 16892.31 crore, a projected growth of 13% more than the projections for the current year. The total plan outlay of Rs 16892.31 crores, 38% is earmarked for agriculture sector comprising 24% for crop loan and 14% for Term credit to Agriculture allied activities. The theme of the plan document is doubling the income of farmers by 2022.
Considering the economic profile of the district and its role in nurturing the MSME sector, Rs 7735 crore (46% of the plan outlay) has been earmarked. The potential for other priority sector consisting of report credit, education, housing, etc is assessed at Rs 2651 crore (16%). He also informed that NABARD is currently nurturing and supporting four Farmers Producer Companies in the district' said R Inigo Arul Selvan, District Development Manager, NABARD during the release of the potential credit plan report at the District Collectorate, today.
The plan document was released by District Collector, TN Hariharan, at the Bankers meeting here today. The First copy of the plan document was received by M.Paramasivam, DGM Canara Bank,Coimbatore.
Commending on the efforts taken by NABARD in the preparation of the document, District Collector, TN Hariharan stressed on the need for increased credit flow aimed at capital formation both in agriculture and MSME sector. He indicated that Precision Farming, High-value Agriculture, Post-Harvest and marketing infrastructure, Storage Infrastructure are the important thrust areas.
'The Government is already in the process of strengthening the existing market and storage infrastructure in the district. A project on strengthening the supply chain for perishable agricultural/horticultural produce has been commenced which includes establishing primary processing centres in different blocks of the district.
There is an urgent need for providing the required handholding and credit support to these entities. In the current year bankers have been advised to support up to 1500 Joint Liability Groups of small/marginal farmers, share croppers, rural artisans and small entrepreneurs', said District Collector.
Kanagaraj, LDM indicated that banks have been advised to ensure that all farmers who have been sanctioned crop loan are provided with ATM enabled Kissan Credit Cards to ensure that they are able to access the credit facilities through multiple delivery channels.
M.Paramasivam, DGM Canara Bank,Coimbatore, P. Ruhen, PD, DRDA,V. Saravanan, AGM RBI. Kanagaraj, LDM, Officials from Government Departments, Coordinators of banks in the district were present during the meeting.
Considering the economic profile of the district and its role in nurturing the MSME sector, Rs 7735 crore (46% of the plan outlay) has been earmarked. The potential for other priority sector consisting of report credit, education, housing, etc is assessed at Rs 2651 crore (16%). He also informed that NABARD is currently nurturing and supporting four Farmers Producer Companies in the district' said R Inigo Arul Selvan, District Development Manager, NABARD during the release of the potential credit plan report at the District Collectorate, today.
The plan document was released by District Collector, TN Hariharan, at the Bankers meeting here today. The First copy of the plan document was received by M.Paramasivam, DGM Canara Bank,Coimbatore.
Commending on the efforts taken by NABARD in the preparation of the document, District Collector, TN Hariharan stressed on the need for increased credit flow aimed at capital formation both in agriculture and MSME sector. He indicated that Precision Farming, High-value Agriculture, Post-Harvest and marketing infrastructure, Storage Infrastructure are the important thrust areas.
'The Government is already in the process of strengthening the existing market and storage infrastructure in the district. A project on strengthening the supply chain for perishable agricultural/horticultural produce has been commenced which includes establishing primary processing centres in different blocks of the district.
There is an urgent need for providing the required handholding and credit support to these entities. In the current year bankers have been advised to support up to 1500 Joint Liability Groups of small/marginal farmers, share croppers, rural artisans and small entrepreneurs', said District Collector.
Kanagaraj, LDM indicated that banks have been advised to ensure that all farmers who have been sanctioned crop loan are provided with ATM enabled Kissan Credit Cards to ensure that they are able to access the credit facilities through multiple delivery channels.
M.Paramasivam, DGM Canara Bank,Coimbatore, P. Ruhen, PD, DRDA,V. Saravanan, AGM RBI. Kanagaraj, LDM, Officials from Government Departments, Coordinators of banks in the district were present during the meeting.