Initiatives to start up new businesses have been observed in sectors with growth potential; for example, in Maniwa City, which is located in the north of the prefecture, a biomass power station – using timber from forest thinning for fuel – co-funded by local businesses has started to operate in April this year.
Fifty per cent of credit outstanding under GCC up to Rs.25,000 will be eligible for being treated as indirect agricultural financing coming under the ambit of priority sector lending norms. The eligibility criteria will be subject to review. It is not necessary that GCC should be linked to purchases and GCC may not necessarily be in the form of a card.