NABARD estimates Rs 308 cr credit potential for MSME sector in Kallakurichi, TN

Kallakurichi, Nov 15 (KNN) The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 308.2 crore for the Government’s priority to the MSME sector in Kallakurichi district of Tamil Nadu.

The credit potential for Other Priority Sector has been estimated as Rs 773.85 crore for 2023-24.

While the Potential Linked Credit Plan (PLP) is pegged at Rs 4,971.48 crore.

As compared to the previous year the projected credit potential for the priority sectors of the district for 2023-24 is about 7% more.

It is about 13% higher than the current year’s Annual Credit Plan (ACP) target.

The PLP will be the reference for the preparation of the ACP by Indian Bank, the lead bank of the district, for determining sector-wise lending priorities.

Sravan Kumar Jatavath, District Collector, Kallakurichi had released the PLP at a meeting.

He said that apart from agriculture sector investments, loans to the MSMEs, education and housing sectors must be disbursed without any undue delay.

Among those present were Swarnambal Subramaniyam, LBO- RBI, K. Balamurugan, AGM-NABARD, Puducherry Cluster (DDM-Kallakurichi), C. N. V. Ramakrishna, Deputy Regional Manager - Indian Bank and L. Muneeswaran, LDM - Indian Bank.  (KNN Bureau)