ZP CEO approves district credit plan of Rs. 4900 crore

ZP CEO approves district credit plan of Rs. 4900 crore

Mangalore Today News Network

Mangalore, Mar 14, 2012: Dr. K. N. Vijayaprakash, the CEO of the ZP, approved a district credit plan of Rs. 4900 crore for 2012 – 13 at the district consultative committee for the lead bank scheme and the district review committee of banks meeting, which was held in the Zilla Panchayat’s Nethravathi Auditorium on March 13 Tuesday. Rs. 1957 crore of the fund was allocated for agriculture, Rs. 398 crore for small and micro enterprises, and Rs. 1522 for other priority sectors.

Speaking on the occasion, J. S. Shenoy, the deputy general manager of Syndicate Bank, said that the banks in the district have reached a business level of Rs. 29,609 crore at the end of the third quarter, of which Rs. 19,032 crore are deposits and Rs. 10,577 are advances. Although rural areas have witnessed a 3 percent fall in credit to deposit ratio, huge growth has been witnessed in semi-urban areas. 

B. S. Hegde of DK Cooperative Milk Producers Union Ltd. expressed his approval of initiatives by lead banks such as Corporation Bank and Syndicate Bank to form partnerships with milk cooperatives. 

Speaking about the challenges facing the milk industry, he said that the industry needs financial support through simplified loan projects, especially at a time when the twin districts were facing a shortage of 1.5 lakh litres of milk everyday. He also said that the union is assisting diary farmers through subsidies under the Dairy Entrepreneurship Development Scheme. 

Further, he said Halagappa, the deputy director of animal husbandry, is proposing initiatives to encourage goat farming, especially as the demand for meat has gone up in the district. He said that goat farming should begin on a pilot basis before being introduced all over the district. 

Prasad Rao, the assistant general manager of NABARD; M. S. Hasan, an RB official of Bangalore; and Takath Rao, a project director of DRDA, were also present.