Bhopal: Finance Minister Jagdish Devda asks bankers to work for development of rural, agriculture sector
NABARD has estimated that Rs 2,58,598 crore are available with banks to give as loans to rural and agriculture sector in Madhya Pradesh for 2023-24, which is 6% higher than the previous year.
Bhopal: Finance minister Jagdish Devda at NABARD seminar on Tuesday | FP Pic
Bhopal (Madhya Pradesh): Finance minister Jagdish Devda appreciated the work done by NABARD to increase the economy of the state and called upon the representatives of banks to work together so that the rural and agricultural sector in the state could develop further. He was addressing NABARD’s seminar on Tuesday.
NABARD has estimated that Rs 2,58,598 crore are available with banks to give as loans to rural and agriculture sector in Madhya Pradesh for 2023-24, which is about 6% higher than the previous year.
Devda said that the state government, NABARD, RBI and all banks were expected to play a positive role in all-round development of Madhya Pradesh. He said that potential estimated by NABARD could be suitably incorporated in the credit plans of the banks in the coming year. This will help in bringing farmers, women, unemployed youths and entrepreneurs into mainstream of development.
The NABARD CGM Nirupam Mehrotra highlighted the potential for growth in agriculture and related sectors and informed that the total potential available for financing through bank credit for 2023-24 is approximately Rs 2,58,598 crore, which is 6.43% higher than the estimates of 2022-23, which was Rs 2,42,967 crore.
Additional chief secretary (finance) Ajit Kesri highlighted the expectations from the bankers in channelising the credit flow. He said that in addition to financing crop production, banks should also focus on lending credit to processing and value addition sector.
Additional chief secretary Ashok Barnwal highlighted the potential areas of growth with respect to agriculture sector in the state and hoped that banks would come forward to financing long gestation crops including bamboo cultivation.
RBI regional director Neeraj Nigam asked public sector banks to re-strategise their business models in light of the new agencies that are entering the agriculture credit space.
RECENT STORIES
-
-
-
-
-