NABARD proposes Rs 20,556 crore potential credit outlay for Coimbatore district

Coimbatore: The National Bank of Agriculture and Rural Development (NABARD) proposed a potential loan plan of Rs 20,556 crore for Coimbatore district for the financial year 2020-21.

Coimbatore: The National Bank of Agriculture and Rural Development (NABARD) proposed a potential loan plan of Rs 20,556 crore for Coimbatore district for the financial year 2020-21. 

District Collector, K. Rajamani released the loan plan at the District-level Bankers Committee meeting at the Collectorate here on Thursday. The first copy of the potential credit outlay was received by S. Venkatraman, District Bank Manager of the district. 

Briefing on NABARD's credit sanction for the financial year, the District Collector Coimbatore district has a great potential in terms of agriculture as well as small and medium-sized enterprises. He urged that banks should come forward to help small and medium scale farmers who are practicing integrated farming and those farmers adapting to modern-day farming technologies.

"Compared to last financial year, NABARD has increased the credit outlay by 5.70%. A total Rs.20556.34 crore has been sanctioned for the district. Of this, the agriculture and allied sectors will get 37.09%, MSMEs (micro, small, and medium-scale enterprises) will get 43.99%, and other sectors will get 18.92%", the Collector informed. 

The meeting was attended by Tamil Nadu State Rural Livelihood Operations Director K. Selvaraju, NABARD District Development Manager V. Esakkimuthu and other senior government officials.

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