FIDD. No. FSD. BC.24/05.05.014/2015-16
May 5, 2016
The Chairman/ Managing Director /
Chief Executive Officer
[All Scheduled Commercial Banks, (excluding Regional Rural Banks)]
Madam / Dear Sir,
Discontinuation of Statements on Special Agriculture Credit Plan (SACP)
In order to monitor and augment the flow of credit to Agriculture, Special Agriculture Credit Plans (SACP) were introduced for Public Sector banks in 1994 and extended to Private Sector Banks in 2004. Under SACP, the banks are required to fix self-set targets for achievement during the year (April-March), with an increase of about 25% over the disbursement made in the previous year. The banks were required to forward half yearly statements to RBI (FIDD) indicating their progress of implementation as at the end of March and September every year.
2. As we are receiving the relevant data through Priority Sector Returns, it has been decided to discontinue the submission of the above statements from April 2016. Accordingly, banks are advised not to furnish half yearly statements as above for the year 2016-17 to FIDD, Reserve Bank of India. However, the credit disbursement statements for the half year ended March 2016 may be forwarded to the Bank.
3. Please acknowledge receipt.
(Jose J. Kattoor)
Chief General Manager
We pride ourselves in offering our customers the most veriety of products from the best leading brands in the industry: