Itanagar

National Bank for Agriculture and Rural Development (NABARD) launches PLP 2024-25 for Arunachal Pradesh district

Sentinel Digital Desk

Published:24th Feb, 2024 at 9:38 AM

OUR CORRESPONDENT

Itanagar: The National Bank for Agriculture and Rural Development (NABARD) on Friday launched the potential linked credit plan (PLP) 2024-25 for Lohit district in Arunachal Pradesh.

Lohit deputy commissioner Shashvat Saurabh launched the PLP in the presence of bankers, administrative officers, and HoDs of line departments.

The potential for institutional credit to the priority sector for the years 2024-25 has been estimated to the tune of Rs 3670.88 lakh for the district. The potential for credit flow to the agriculture sector, including crop loans, has been estimated to be to the tune of Rs 2475.44 lakh.

NABARD district development manager Nitya Mili disclosed that NABARD prepares PLPs for each district of the country every year with a view to facilitating the flow of institutional credit to priority sector activities, including crop loans and term loans for agriculture and allied activities.

As a part of the annual exercise, NABARD carries out a detailed exercise for mapping the credit potential that is expected to stimulate balanced growth in all the sectors of the economy of a district, he said.

He said the PLP projections serve as a basis for banks in preparing annual credit plans.

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