CURRENT AFFAIRS

Detailed explanation-1: -The National Bank for Agriculture and Rural Development (NABARD) has pegged the Potential Linked Credit Plan (PLP) for Villupuram district at ₹7, 357.65 crore for the year 2023-24.

Detailed explanation-2: -It represents an effort for making projections of credit requirement in different sectors in the district taking into account the long term potential, availability of infrastructure, marketing support, credit absorption capacity and strength of the credit delivery system.

Detailed explanation-3: -It is a developmental plan consisting of technically feasible and economically viable schemes which can be taken up for financing by the financial institutions. It has the following objectives. (i) Eradication of under employment and unemployment.

Detailed explanation-4: -NABARD, with its Head office at Mumbai, hasNABARD, with itsHead office at Mumbai, has 31 Regional Offices located in States and UnionTerritory, a cell at Srinagar, 04 Training Establishments in the Northern, Eastern & Southern parts of India and 414 District Development Managersfunctioning at district level.

Detailed explanation-5: -Long-term loans to State Government. NABARD provides long-term (LT) loans to State Governments to contribute to the share capital of cooperative credit institutions. This reimbursement-based support is intended to encourage larger lending programmes by these cooperatives to meet the agricultural credit requirements.