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.
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
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