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Guwahati: The National Bank for Agriculture and Rural Development (NABARD) projects credit potential of Rs 45,957 crore for the state of Assam for the financial year This is 16% higher than the previous year.

The credit seminar was held on Thursday in Guwahati. Of the total projected credit potential, as much as Rs 21529.00 crore is towards Agriculture and Allied activities. Further, credit potential of Rs 19012.00 crore has been projected towards MSME sector, while credit potential for Informal Credit – SHGs / JLGs have been pegged at Rs 2204.00 crore; Housing and Education Sector was projected at Rs 2239.00 crore.

The function was attended by Ashish K Bhutani Additional Chief Secretary & Agriculture Production Commissioner, Ravi Kota Additional Chief Secretary Industries & Commerce. The State Focus Paper published by NABARD was released on this occasion.

NABARD stated the objective is to assess the exploitable potential through credit dispensation by banks throughout the district and throughout the State of Assam. As a credit planning document, it has been focusing on mapping of the sector-wise, activity-wise, overall potential for the absorption of credit and provide an overview of the Agricultural Economy of all the Districts.

The State Focus Paper is expected to act as an input for the credit and infrastructure planning by bankers and State Government to prioritize allocation of funds for development. The dignitaries present in the function highly praised NABARD for methodically mapping available exploitable credit potentials encompassing all Priority Sector activities of the State’s economy.

Naveen Dhingra, Chief General Manager, NABARD, Assam, in his address, highlighted NABARD’s role towards enabling, energizing and empowering the agricultural and rural eco-system of India. NABARD has dedicated itself to agriculture and rural development of India since inception. NABARD has collaborated with stake holders, created synergies with the banking system, on-boarded various government bodies and diligently build a rural ecosystem of credit and cooperation. NABARD has scripted innumerable interventions towards expanding the scale of finance, extending concessional credit, forming grassroots institutions, designing customized financial products, contribution towards building rural infrastructure, Farmers’ Producer Organization, developing watersheds and securing & diversifying tribal livelihoods, and many more.

Bhutani in his address appreciated NABARD for bringing out this vital document to act as the basis of credit potential and dispensation and tapping the MSME sector. He urged upon the banks to proactively take forward the schemes launched by the Government in the greater interest of the society giving special impetus on Fasal Bima Yojana and KCC schemes.

  • Published On Dec 22, 2023 at 05:30 PM IST

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