NABARD Proposes Rs 18,273.55 Cr Credit Plan For Krishnagiri In 2024-25

Krishnagiri, Jan 2 (KNN) NABARD has projected a Potential-Linked Credit Plan (PLP) of Rs 18,273.55 crores for Krishnagiri district in the fiscal year 2024-25.

The anticipated figure for 2024-25 reflects an 84.04 per cent increase compared to the PLP projections for 2023-24, reported Hindu.

The PLP serves as the foundation for finalizing the annual credit plan for banks operating in the district.

Previously, Collector K.M. Sarayu unveiled the PLP document at the district-level bankers’ committee meeting held at the Collectorate.

The PLP outlines a credit potential of Rs 11,312.99 crores for agriculture, encompassing agriculture infrastructure and related activities.

Additionally, it allocates an estimated Rs 5,726.25 crores for the Micro Small and Medium Enterprises (MSME) sector.

According to the updated guidelines on priority sector lending issued by the Reserve Bank of India, the credit potential for export credit, education, and housing—utilizing bank credit—is estimated at ₹51 crores, ₹25.76 crores, and ₹91.35 crores, respectively.

Saravanan, Lead District Manager, Indian Bank, Krishnagiri, who was also present at the event expressed that the annual credit plan for 2024-25 will be formulated based on inputs from the PLP provided by NABARD.

He urged all banks to concentrate on the potential areas of investment credit identified by NABARD.

(KNN Bureau)