Credit outflow for Tirunelveli district put at ₹21,822 crore for upcoming fiscal

The district’s potential-linked credit plan for the upcoming financial year, which was released here by Collector R. Sukumar on Thursday, has envisaged the credit outflow of ₹21,822.19 crore.

As usual, agricultural sector, the district’s predominant profession, has received the lion’s share of ₹17,901.80 crore as the amount will be given as crop loan and for creating agro-infrastructure, marketing and allied activities.

While ₹13,545.97 crore has been earmarked for loans for crop production and marketing, ₹4,355.83 crore will be spent for infrastructure creation in agriculture and allied sectors. The micro, small and medium enterprises sector will get ₹3,144.54 crore and services sector will get the rest.

The Collector exhorted the bankers to quickly process the loan applications, especially the applications for educational loans and for starting MSMEs, and release the loan at the earliest.

“Since we are working towards zero dropouts and taking all-out efforts for the students pursuing their studies in the colleges, the bankers have the greater role to play by sanctioning the loans within the shortest possible time which will immensely benefit the students,” Dr. Sukumar said.

Project Director of District Rural Development Agency Saravanan, NABARD District Development Manager Sashikumar, Lead District Manager Ganesh Manikandan, Regional Manager of State Bank of India Gurusamy, Reserve Bank of India representative Anbarasu and Regional Manager of Indian Overseas Bank Bhaskaran were present.