ACP outlay fixed at Rs 1390.79 crore

PUDUCHERRY: The Annual Credit Plan (ACP) outlay by the banks has been fixed at  Rs 1390.79 crore for Puducherry for the year 2012-13.This ACP was released at the State Level Review Committee Meeting (SLRC) of banks by B Raj Kumar, Executive Director, Indian Bank, on Wednesday. It is 15 per cent higher than the revised  plan outlay of 2011-12 (Rs 1212.86 crore) and will benefit 2.02 lakh persons in the region. The ACP  has been prepared on  the basis of the past trend, future potential and the Potential Linked Credit Plan of the National Bank of Agriculture and Rural Developement(NABARD).   As per the ACP, which is Rs 177.93 crore higher than that of the current year, the credit disbursement earmarked to agriculture sector has been brought down to 44 per cent from 51 per cent in 2011-2012, although the amount has been increased to Rs 614.38 crore from Rs 612 crore in 2011-2012. Credit to farm sector remains the same at 18 per cent, though credit earmarked has been increased to Rs 251.41 crore from `220.86 crore in 2011-2012.  However, the service sector gets the push with 38 per cent of the outlay as compared to 31 per cent in 2011-2012 and increase in amount to Rs 525 crore from Rs 380 crore in 2011-2012. For the first time in the country, Annual Financial Services(AFS) Plan 2012-13 for  67 Financial Inclusion Villages in the Union territory has been launched along with ACP as per the guidelines issued by the Department of Financial services, Ministry of Finance, Government of India.The AFS plan envisages opening of 55246 SB accounts at these villages during 2012-13. Besides, SB-cum- Overdraft (OD), General Credit Card ( GCC)  and Kissan Credit Card(KCC) will be provided to 12528 accounts amounting to Rs 35.07 crore.  Insurance products both life and non-life will be given to 1831 households.