More credit flow to agriculture, small enterprises and other priority sectors in Uttar Pradesh is in the offing, as the Annual Credit Plan (ACP) for Uttar Pradesh pertaining to the current financial year has hiked to Rs 50,877 crore.
This is an increase of Rs 5,629 crore or about 12 per cent over the ACP of Rs 45,249 crore during 2009-10. Besides, the banks, including commercial banks, regional rural banks (RRBs) and cooperative banks have performed handsomely in UP, by beating the ACP target last year. They extended total credit of Rs 45,593 crore against target of Rs 45,249 crore, which is almost 101 per cent.
Overall, the achievement under ACP 2009-10 had been Rs 12,398 crore higher than the corresponding period of 2008-09.
In agriculture, the total credit flow touched Rs 29,055 crore against target of Rs 29,548 crore, which was more than 98 per cent of target. The ACP was unveiled by Bank of Baroda (BoB) Executive Director N S Srinath at the State Level Bankers’ Committee (SLBC) meeting here. BoB is the UP SLBC convener.
In January 2010, National Bank for Agriculture and Rural Development (NABARD) had pegged the Potential Linked Credit Plan (PLP) at Rs 51,400 crore for 2010-11. According to Reserve Bank of India (RBI), ACP has to be based on PLP, which is prepared through a consultative process in the respective state.
The PLP projections were made in the State Focus Paper (SFP) for 2010-11 by NABARD. SFP provides bankers with information relating to opportunities available for making further investment. It gives indications to government regarding policy measures for sustainable development of agriculture.
The commercial banks, including private sector, have topped in credit facilitation by achieving 111 per cent of their targets, compared to about 96 and 54 per cent for regional rural banks (RRBs) and cooperative banks respectively.
